Science Applications International (NYSE:SAIC) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Science Applications International (NYSE:SAIC) from a hold rating to a buy rating in a report released on Wednesday.

Several other equities analysts have also recently weighed in on the company. Wells Fargo & Company raised their price objective on Science Applications International from $141.00 to $143.00 and gave the company an equal weight rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. decreased their price objective on Science Applications International from $142.00 to $140.00 and set a neutral rating for the company in a report on Tuesday, March 19th. The Goldman Sachs Group decreased their price objective on Science Applications International from $113.00 to $110.00 and set a sell rating for the company in a report on Thursday, February 29th. Finally, Truist Financial reiterated a hold rating and issued a $130.00 target price on shares of Science Applications International in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $127.60.

Science Applications International Price Performance

SAIC opened at $124.68 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 1.13. Science Applications International has a 12 month low of $95.43 and a 12 month high of $145.17. The company has a fifty day simple moving average of $133.36 and a 200 day simple moving average of $124.61. The stock has a market cap of $6.44 billion, a P/E ratio of 15.72 and a beta of 0.70.

Science Applications International (NYSE:SAIC) last released its earnings results on Monday, March 18th. The information technology services provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.01). The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.64 billion. Science Applications International had a return on equity of 23.73% and a net margin of 6.41%. Science Applications International’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter last year, the company posted $2.04 EPS. On average, research analysts expect that Science Applications International will post 8.11 EPS for the current year.

Science Applications International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, April 11th. This represents a $1.48 annualized dividend and a yield of 1.19%. Science Applications International’s dividend payout ratio (DPR) is presently 16.72%.

Insiders Place Their Bets

In other Science Applications International news, Director Katharina G. Mcfarland sold 760 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $125.64, for a total transaction of $95,486.40. Following the completion of the sale, the director now directly owns 8,653 shares in the company, valued at $1,087,162.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Science Applications International news, EVP Vincent P. Difronzo purchased 795 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was bought at an average cost of $126.04 per share, for a total transaction of $100,201.80. Following the completion of the transaction, the executive vice president now owns 8,772 shares in the company, valued at $1,105,622.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katharina G. Mcfarland sold 760 shares of Science Applications International stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $125.64, for a total transaction of $95,486.40. Following the completion of the sale, the director now owns 8,653 shares of the company’s stock, valued at $1,087,162.92. The disclosure for this sale can be found here. Company insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Science Applications International by 9.4% in the first quarter. Wellington Management Group LLP now owns 5,699,458 shares of the information technology services provider’s stock valued at $525,321,000 after acquiring an additional 491,167 shares during the last quarter. Vanguard Group Inc. increased its stake in Science Applications International by 1.3% in the third quarter. Vanguard Group Inc. now owns 5,210,623 shares of the information technology services provider’s stock valued at $460,775,000 after acquiring an additional 68,359 shares during the last quarter. BlackRock Inc. increased its stake in Science Applications International by 2.0% in the first quarter. BlackRock Inc. now owns 4,887,542 shares of the information technology services provider’s stock valued at $450,486,000 after acquiring an additional 94,874 shares during the last quarter. FMR LLC increased its stake in Science Applications International by 13.2% in the third quarter. FMR LLC now owns 2,823,285 shares of the information technology services provider’s stock valued at $297,969,000 after acquiring an additional 328,426 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Science Applications International by 14.8% in the fourth quarter. First Trust Advisors LP now owns 1,810,505 shares of the information technology services provider’s stock valued at $225,082,000 after acquiring an additional 233,075 shares during the last quarter. 76.00% of the stock is owned by institutional investors.

About Science Applications International

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.