JPMorgan Chase & Co. Upgrades Science Applications International (NYSE:SAIC) to Overweight

Science Applications International (NYSE:SAIC) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Wednesday, Briefing.com reports. The firm presently has a $170.00 price objective on the information technology services provider’s stock, up from their previous price objective of $150.00. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 20.76% from the stock’s current price.

A number of other equities research analysts also recently weighed in on SAIC. StockNews.com raised shares of Science Applications International from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Barclays lifted their target price on shares of Science Applications International from $135.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Truist Financial boosted their price target on shares of Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. TD Cowen lifted their price objective on Science Applications International from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Citigroup increased their target price on Science Applications International from $155.00 to $160.00 and gave the company a “buy” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Science Applications International presently has an average rating of “Hold” and a consensus price target of $142.25.

Science Applications International Trading Up 1.1 %

SAIC opened at $140.77 on Wednesday. The company has a fifty day moving average price of $129.18 and a two-hundred day moving average price of $126.63. The company has a market cap of $7.21 billion, a P/E ratio of 16.48 and a beta of 0.70. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. Science Applications International has a 1-year low of $104.46 and a 1-year 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.19. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 EPS. Analysts predict that Science Applications International will post 8.17 EPS for the current fiscal year.

Insider Activity at Science Applications International

In other Science Applications International news, EVP Michelle A. O’hara bought 1,000 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was acquired at an average price of $118.00 per share, with a total value of $118,000.00. Following the transaction, the executive vice president now owns 33,497 shares in the company, valued at $3,952,646. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Science Applications International news, EVP James Joshua Jackson purchased 400 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were acquired at an average price of $114.28 per share, for a total transaction of $45,712.00. Following the purchase, the executive vice president now directly owns 13,677 shares of the company’s stock, valued at approximately $1,563,007.56. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michelle A. O’hara acquired 1,000 shares of Science Applications International stock in a transaction dated Friday, July 12th. The stock was bought at an average price of $118.00 per share, with a total value of $118,000.00. Following the completion of the purchase, the executive vice president now directly owns 33,497 shares in the company, valued at $3,952,646. The disclosure for this purchase can be found here. Insiders purchased a total of 1,550 shares of company stock valued at $184,319 in the last 90 days. Corporate insiders own 0.67% of the company’s stock.

Institutional Trading of Science Applications International

Institutional investors and hedge funds have recently modified their holdings of the company. Larson Financial Group LLC purchased a new stake in Science Applications International during the second quarter valued at approximately $27,000. Parallel Advisors LLC raised its position in Science Applications International by 62.9% in the 4th quarter. Parallel Advisors LLC now owns 259 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 100 shares during the period. Fifth Third Bancorp lifted its stake in 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 purchasing an additional 84 shares during the last quarter. CWM LLC boosted its position in shares of Science Applications International by 56.8% during the second quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 147 shares during the period. Finally, FinTrust Capital Advisors LLC boosted its stake in shares of Science Applications International by 150.3% during the first quarter. FinTrust Capital Advisors LLC now owns 473 shares of the information technology services provider’s stock valued at $62,000 after purchasing an additional 284 shares during the period. 76.00% of the stock is currently 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.