Wells Fargo & Company Upgrades Science Applications International (NYSE:SAIC) to “Overweight”

Science Applications International (NYSE:SAIC) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm currently has a $147.00 price target on the information technology services provider’s stock, down from their prior price target of $157.00. Wells Fargo & Company‘s price objective would indicate a potential upside of 19.23% from the stock’s current price.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. upgraded Science Applications International from a “neutral” rating to an “overweight” rating and increased their price target for the company from $150.00 to $170.00 in a report on Wednesday, October 2nd. Barclays raised their target price on shares of Science Applications International from $135.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. TD Cowen boosted their target price on shares of Science Applications International from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. StockNews.com downgraded Science Applications International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial boosted their price objective on Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $149.00.

Science Applications International Stock Down 0.6 %

SAIC stock opened at $123.29 on Tuesday. The firm has a market cap of $6.11 billion, a PE ratio of 22.17 and a beta of 0.70. Science Applications International has a 1 year low of $112.00 and a 1 year high of $156.34. The company has a fifty day simple moving average of $140.05 and a 200 day simple moving average of $130.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21.

Science Applications International (NYSE:SAIC) last announced its quarterly earnings results on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.19. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 earnings per share. Sell-side analysts anticipate that Science Applications International will post 8.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC acquired a new position in shares of Science Applications International in the 2nd quarter valued at $27,000. UMB Bank n.a. raised its position in Science Applications International by 438.5% in the third quarter. UMB Bank n.a. now owns 210 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 171 shares in the last quarter. GAMMA Investing LLC lifted its stake in Science Applications International by 236.0% during the third quarter. GAMMA Investing LLC now owns 289 shares of the information technology services provider’s stock worth $40,000 after purchasing an additional 203 shares during the period. Fifth Third Bancorp boosted its holdings in Science Applications International by 30.4% during the second quarter. Fifth Third Bancorp now owns 360 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 84 shares in the last quarter. Finally, CWM LLC grew its stake in shares of Science Applications International by 56.8% in the 2nd quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 147 shares during the period. 76.00% of the stock is owned by institutional investors.

Science Applications International Company Profile

Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company's offerings include IT modernization; digital engineering; artificial intelligence; Weapon systems support design, build, modify, integrate, and sustain weapon systems; and end-to-end services, such as design, development, integration, deployment, management and operations, sustainment, and security of its customers' IT infrastructure, as well as training and simulation and ground vehicles support which integrates, modify, upgrades, and sustains ground vehicles for nation's armed forces.