Wells Fargo & Company Forecasts Strong Price Appreciation for Science Applications International (NYSE:SAIC) Stock

Science Applications International (NYSE:SAIC) had its target price raised by investment analysts at Wells Fargo & Company from $147.00 to $154.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 30.44% from the company’s previous close.

SAIC has been the subject of several other research reports. JPMorgan Chase & Co. raised Science Applications International from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $150.00 to $170.00 in a research note on Wednesday, October 2nd. Barclays raised 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 note on Monday, September 16th. UBS Group initiated coverage on shares of Science Applications International in a research note on Monday, December 2nd. They issued a “neutral” rating and a $134.00 price target for the company. Truist Financial raised their price objective on shares of Science Applications International from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Finally, StockNews.com downgraded Science Applications International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $145.25.

Science Applications International Price Performance

Shares of SAIC opened at $118.06 on Thursday. Science Applications International has a 52 week low of $112.00 and a 52 week high of $156.34. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.21. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 21.23 and a beta of 0.64. The stock has a 50 day moving average of $138.09 and a 200-day moving average of $129.49.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.19. The firm had revenue of $1.82 billion for 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%. Science Applications International’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company posted $2.05 earnings per share. As a group, analysts forecast that Science Applications International will post 8.21 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Larson Financial Group LLC acquired a new stake in shares of Science Applications International during the 2nd quarter worth about $27,000. UMB Bank n.a. increased its holdings in shares of 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 worth $29,000 after buying an additional 171 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Science Applications International by 236.0% during the third 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 in the last quarter. Fifth Third Bancorp raised 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 valued at $42,000 after acquiring an additional 84 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Science Applications International by 56.8% in 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 currently owned by institutional investors and hedge funds.

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.