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

Science Applications International (NYSE:SAIC) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other analysts have also issued reports on SAIC. Truist Financial increased their price objective on Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Friday. TD Cowen raised their price target on Science Applications International from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup lifted their price target on Science Applications International from $155.00 to $160.00 and gave the company a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their price objective on Science Applications International from $132.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $138.29.

Science Applications International Price Performance

Shares of SAIC opened at $133.15 on Friday. The business’s 50-day moving average is $123.03 and its 200-day moving average is $127.29. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 15.59 and a beta of 0.70. Science Applications International has a fifty-two week low of $104.26 and a fifty-two week high of $145.17.

Science Applications International (NYSE:SAIC) last announced its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.19. Science Applications International had a net margin of 6.28% and a return on equity of 22.56%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. Equities research analysts expect that Science Applications International will post 8.06 EPS for the current fiscal year.

Insider Activity at Science Applications International

In related news, CFO Prabu Natarajan bought 2,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $114.85 per share, with a total value of $229,700.00. Following the completion of the transaction, the chief financial officer now directly owns 60,630 shares of the company’s stock, valued at $6,963,355.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Prabu Natarajan bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average price of $114.85 per share, for a total transaction of $229,700.00. Following the acquisition, the chief financial officer now directly owns 60,630 shares of the company’s stock, valued at approximately $6,963,355.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michelle A. O’hara purchased 1,000 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were purchased at an average price of $118.00 per share, with a total value of $118,000.00. Following the completion of the acquisition, the executive vice president now directly owns 33,497 shares of the company’s stock, valued at $3,952,646. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 3,715 shares of company stock valued at $430,207. Corporate insiders own 0.67% of the company’s stock.

Institutional Trading of Science Applications International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAIC. Wellington Management Group LLP lifted its holdings in shares of Science Applications International by 5.0% during the fourth quarter. Wellington Management Group LLP now owns 4,062,059 shares of the information technology services provider’s stock worth $504,995,000 after buying an additional 194,160 shares during the last quarter. First Trust Advisors LP increased its position 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 worth $225,082,000 after acquiring an additional 233,075 shares during the period. Dimensional Fund Advisors LP increased its position in Science Applications International by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,108,748 shares of the information technology services provider’s stock worth $130,333,000 after acquiring an additional 56,414 shares during the period. Norges Bank acquired a new position in Science Applications International during the 4th quarter valued at $75,040,000. Finally, Bank of New York Mellon Corp boosted its holdings in Science Applications International by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 557,299 shares of the information technology services provider’s stock valued at $65,511,000 after purchasing an additional 25,807 shares during the period. Institutional investors and hedge funds own 76.00% of the company’s stock.

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.