Citigroup Raises Science Applications International (NYSE:SAIC) Price Target to $176.00

Science Applications International (NYSE:SAIC) had its price target lifted by Citigroup from $160.00 to $176.00 in a research note released on Thursday, Benzinga reports. Citigroup currently has a buy rating on the information technology services provider’s stock.

Other equities research analysts also recently issued reports about the company. StockNews.com upgraded Science Applications International from a hold rating to a buy rating in a research note on Friday, September 6th. 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 research report on Monday, September 16th. Truist Financial lifted 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 upped their price objective on Science Applications International from $145.00 to $155.00 and gave the stock a buy rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. upgraded Science Applications International from a neutral rating to an overweight rating and lifted their target price for the company from $150.00 to $170.00 in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Science Applications International has an average rating of Hold and a consensus price target of $150.43.

Science Applications International Price Performance

SAIC opened at $144.50 on Thursday. The firm has a market cap of $7.16 billion, a PE ratio of 25.99 and a beta of 0.70. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. Science Applications International has a 1 year low of $105.97 and a 1 year high of $145.97. The stock has a 50-day moving average price of $132.55 and a 200-day moving average price of $127.54.

Science Applications International (NYSE:SAIC) last released its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.19. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Science Applications International had a net margin of 3.97% and a return on equity of 22.88%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 earnings per share. Sell-side analysts predict that Science Applications International will post 8.2 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.02%. Science Applications International’s payout ratio is presently 26.62%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SAIC. Larson Financial Group LLC bought a new position in shares of Science Applications International during the 2nd quarter valued at about $27,000. UMB Bank n.a. boosted its stake in Science Applications International by 438.5% during the third quarter. UMB Bank n.a. now owns 210 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 171 shares during the last quarter. GAMMA Investing LLC grew its holdings in Science Applications International by 236.0% during the 3rd quarter. GAMMA Investing LLC now owns 289 shares of the information technology services provider’s stock valued at $40,000 after buying an additional 203 shares in the last quarter. Fifth Third Bancorp increased its stake in Science Applications International by 30.4% in the 2nd quarter. Fifth Third Bancorp now owns 360 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 84 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Science Applications International by 56.8% during the 2nd quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 147 shares in the last quarter. 76.00% of the stock is owned by hedge funds and other institutional investors.

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.