Science Applications International (NYSE:SAIC) Rating Increased to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Science Applications International (NYSE:SAIC) from an equal weight rating to an overweight rating in a report published on Tuesday morning, MarketBeat Ratings reports. They currently have $147.00 target price on the information technology services provider’s stock, down from their prior target price of $157.00.

A number of other research analysts have also weighed in on the company. Citigroup raised their target price on Science Applications International from $160.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Truist Financial lifted their price objective on shares of Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Friday, September 6th. TD Cowen increased their target price on shares of Science Applications International from $145.00 to $155.00 and gave the company a “buy” rating in a report on Friday, September 6th. Barclays boosted their price target on shares of Science Applications International from $135.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Finally, StockNews.com lowered shares of Science Applications International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Science Applications International has an average rating of “Moderate Buy” and a consensus price target of $149.00.

Science Applications International Stock Performance

Shares of SAIC opened at $124.01 on Tuesday. The stock has a 50-day moving average of $140.28 and a 200-day moving average of $130.15. Science Applications International has a one year low of $112.00 and a one year high of $156.34. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $6.14 billion, a PE ratio of 22.30 and a beta of 0.70.

Science Applications International (NYSE:SAIC) last issued its earnings results on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.19. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. Science Applications International’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 earnings per share. On average, equities research analysts predict that Science Applications International will post 8.2 EPS for the current fiscal year.

Science Applications International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.48 annualized dividend and a dividend yield of 1.19%. Science Applications International’s payout ratio is currently 26.62%.

Hedge Funds Weigh In On Science Applications International

Institutional investors have recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings 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 purchasing an additional 171 shares during the last quarter. Larson Financial Group LLC purchased a new stake in shares of Science Applications International during the 2nd quarter valued at approximately $27,000. GAMMA Investing LLC boosted its holdings in Science Applications International by 236.0% in the 3rd quarter. GAMMA Investing LLC now owns 289 shares of the information technology services provider’s stock worth $40,000 after buying an additional 203 shares during the period. Fifth Third Bancorp grew 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 valued at $42,000 after buying an additional 84 shares in the last quarter. Finally, CWM LLC grew its stake in Science Applications International by 56.8% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 76.00% of the company’s stock.

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.