Science Applications International (NYSE:SAIC) Sees Large Volume Increase on Analyst Upgrade

Science Applications International Co. (NYSE:SAICGet Free Report) shares saw unusually-high trading volume on Tuesday after Wells Fargo & Company raised their price target on the stock from $141.00 to $143.00. Wells Fargo & Company currently has an equal weight rating on the stock. Approximately 363,953 shares traded hands during trading, an increase of 21% from the previous session’s volume of 299,817 shares.The stock last traded at $126.36 and had previously closed at $128.40.

SAIC has been the topic of a number of other research reports. Truist Financial increased their price objective on shares of Science Applications International from $115.00 to $130.00 and gave the stock a “hold” rating in a research report on Tuesday, December 5th. StockNews.com cut shares of Science Applications International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 5th. JPMorgan Chase & Co. cut shares of Science Applications International from an “overweight” rating to a “neutral” rating and raised their price target for the company from $130.00 to $142.00 in a research report on Tuesday, December 5th. Finally, The Goldman Sachs Group dropped their price target on shares of Science Applications International from $113.00 to $110.00 and set a “sell” rating on the stock in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Science Applications International has a consensus rating of “Hold” and a consensus price target of $127.50.

Check Out Our Latest Stock Analysis on SAIC

Insiders Place Their Bets

In other Science Applications International news, EVP Michelle A. O’hara sold 4,000 shares of Science Applications International stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $127.45, for a total transaction of $509,800.00. Following the transaction, the executive vice president now owns 26,238 shares of the company’s stock, valued at approximately $3,344,033.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Michelle A. O’hara sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $127.45, for a total transaction of $509,800.00. Following the completion of the sale, the executive vice president now owns 26,238 shares in the company, valued at approximately $3,344,033.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Donna S. Morea sold 1,209 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $125.11, for a total transaction of $151,257.99. Following the sale, the director now owns 31,834 shares of the company’s stock, valued at approximately $3,982,751.74. The disclosure for this sale can be found here. Insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. bought a new position in Science Applications International in the 1st quarter valued at $978,000. Natixis Advisors L.P. boosted its holdings in Science Applications International by 14.0% in the 1st quarter. Natixis Advisors L.P. now owns 11,670 shares of the information technology services provider’s stock valued at $1,076,000 after purchasing an additional 1,432 shares during the period. Bank of Montreal Can boosted its holdings in Science Applications International by 19.5% in the 1st quarter. Bank of Montreal Can now owns 11,432 shares of the information technology services provider’s stock valued at $1,073,000 after purchasing an additional 1,862 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Science Applications International in the 1st quarter valued at $578,000. Finally, MetLife Investment Management LLC boosted its holdings in Science Applications International by 32.0% in the 1st quarter. MetLife Investment Management LLC now owns 36,823 shares of the information technology services provider’s stock valued at $3,394,000 after purchasing an additional 8,926 shares during the period. 75.31% of the stock is currently owned by hedge funds and other institutional investors.

Science Applications International Stock Performance

The company’s fifty day simple moving average is $133.87 and its 200 day simple moving average is $122.11. The company has a current ratio of 0.98, a quick ratio of 1.08 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $6.61 billion, a P/E ratio of 14.35 and a beta of 0.71.

Science Applications International (NYSE:SAICGet Free Report) last posted its quarterly earnings data 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). Science Applications International had a return on equity of 23.73% and a net margin of 6.41%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the firm posted $2.04 earnings per share. The business’s revenue was down 11.7% on a year-over-year basis. As a group, sell-side analysts forecast that Science Applications International Co. will post 8.14 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, April 11th. Science Applications International’s dividend payout ratio is currently 16.72%.

Science Applications International Company Profile

(Get Free Report)

Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company's offerings include engineering; technology integration; IT modernization; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; 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 cloud migration, managed services, infrastructure modernization, and enterprise IT-as-a-service solutions; and data management platform solutions.

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