Science Applications International (NYSE:SAIC) Raised to Strong-Buy at TD Cowen

TD Cowen upgraded shares of Science Applications International (NYSE:SAIC) to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

Several other equities analysts have also commented on SAIC. JPMorgan Chase & Co. dropped their target price on Science Applications International from $170.00 to $148.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Wells Fargo & Company increased their price objective on shares of Science Applications International from $147.00 to $154.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Barclays boosted 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 report on Monday, September 16th. The Goldman Sachs Group cut their price target on shares of Science Applications International from $124.00 to $103.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Finally, Citigroup upped their price objective on Science Applications International from $160.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.38.

Science Applications International Stock Performance

Shares of SAIC opened at $111.42 on Thursday. The company’s 50 day simple moving average is $132.15 and its 200 day simple moving average is $128.12. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 18.79 and a beta of 0.64. Science Applications International has a 1 year low of $108.90 and a 1 year high of $156.34.

Science Applications International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, January 10th. This represents a $1.48 annualized dividend and a dividend yield of 1.33%. Science Applications International’s payout ratio is 24.96%.

Insider Activity at Science Applications International

In other news, EVP Barbara Supplee bought 425 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average cost of $116.36 per share, for a total transaction of $49,453.00. Following the completion of the purchase, the executive vice president now owns 3,579 shares of the company’s stock, valued at $416,452.44. This trade represents a 13.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is owned by insiders.

Hedge Funds Weigh In On Science Applications International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Science Applications International by 4.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,129 shares of the information technology services provider’s stock worth $485,000 after acquiring an additional 167 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Science Applications International in the 2nd quarter valued at approximately $201,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Science Applications International during the 2nd quarter valued at approximately $266,000. Raymond James & Associates grew its position in shares of Science Applications International by 8.3% during the second quarter. Raymond James & Associates now owns 73,275 shares of the information technology services provider’s stock worth $8,613,000 after buying an additional 5,603 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Science Applications International by 30.4% in the second quarter. Fifth Third Bancorp now owns 360 shares of the information technology services provider’s stock worth $42,000 after buying an additional 84 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.