Science Applications International (NYSE:SAIC) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Science Applications International (NYSE:SAIC) from a hold rating to a buy rating in a research note published on Wednesday morning.

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

Science Applications International Price Performance

SAIC stock opened at $124.68 on Wednesday. The firm’s 50-day moving average price is $133.36 and its two-hundred day moving average price is $124.61. Science Applications International has a 12-month low of $95.43 and a 12-month high of $145.17. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 15.72 and a beta of 0.70. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 1.13.

Science Applications International (NYSE:SAIC) last released 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 net margin of 6.41% and a return on equity of 23.73%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the firm posted $2.04 EPS. Science Applications International’s revenue was down 11.7% compared to the same quarter last year. As a group, equities analysts predict that Science Applications International will post 8.11 earnings per share for the current year.

Science Applications International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.48 annualized dividend and a dividend yield of 1.19%. Science Applications International’s dividend payout ratio is presently 16.72%.

Insider Transactions at Science Applications International

In other news, Director Katharina G. Mcfarland sold 760 shares of the company’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 value of $95,486.40. Following the transaction, the director now owns 8,653 shares in the company, valued at $1,087,162.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Toni Townes-Whitley acquired 3,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was purchased at an average cost of $125.96 per share, with a total value of $377,880.00. Following the completion of the acquisition, the chief executive officer now directly owns 46,795 shares of the company’s stock, valued at $5,894,298.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katharina G. Mcfarland sold 760 shares of the business’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 transaction, the director now directly owns 8,653 shares of the company’s stock, valued at $1,087,162.92. The disclosure for this sale can be found here. Insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in shares of Science Applications International by 9.4% during 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 purchasing an additional 491,167 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Science Applications International by 1.3% during 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 purchasing an additional 68,359 shares during the last quarter. BlackRock Inc. increased its holdings in Science Applications International by 2.0% during 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 buying an additional 94,874 shares during the last quarter. FMR LLC increased its holdings in Science Applications International by 13.2% during 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 buying an additional 328,426 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Science Applications International by 14.8% during 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 buying an additional 233,075 shares during the last quarter. 76.00% of the stock is owned by hedge funds and other 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.