JPMorgan Chase & Co. Cuts Science Applications International (NYSE:SAIC) Price Target to $148.00

Science Applications International (NYSE:SAIC) had its price target cut by JPMorgan Chase & Co. from $170.00 to $148.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

Several other research analysts have also commented on the company. TD Cowen lifted their price target on Science Applications International from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. UBS Group started coverage on Science Applications International in a report on Monday, December 2nd. They issued a “neutral” rating and a $134.00 target price for the company. Wells Fargo & Company increased their price target on Science Applications International from $147.00 to $154.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial raised their price target on Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Finally, Barclays boosted their price objective 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. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $145.25.

Science Applications International Stock Performance

NYSE:SAIC opened at $118.06 on Friday. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 19.91 and a beta of 0.64. Science Applications International has a 1 year low of $112.00 and a 1 year high of $156.34. The stock’s 50 day simple moving average is $138.09 and its two-hundred day simple moving average is $129.37. 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 (NYSE:SAIC) last announced its quarterly earnings results on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.19. Science Applications International had a net margin of 3.97% and a return on equity of 22.88%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business posted $2.05 earnings per share. Science Applications International’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities analysts anticipate that Science Applications International will post 8.57 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.48 annualized dividend and a dividend yield of 1.25%. Science Applications International’s dividend payout ratio (DPR) is 24.96%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SAIC. Oddo BHF Asset Management Sas bought a new stake in Science Applications International during the 3rd quarter valued at about $1,713,000. Tidal Investments LLC purchased a new position in shares of Science Applications International during the third quarter worth approximately $200,000. TD Private Client Wealth LLC increased its position in shares of Science Applications International by 53.6% during the third quarter. TD Private Client Wealth LLC now owns 1,524 shares of the information technology services provider’s stock worth $212,000 after acquiring an additional 532 shares during the period. Arete Wealth Advisors LLC raised its stake in shares of Science Applications International by 42.0% during the third quarter. Arete Wealth Advisors LLC now owns 7,635 shares of the information technology services provider’s stock valued at $1,063,000 after acquiring an additional 2,260 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new stake in shares of Science Applications International in the third quarter valued at approximately $249,000. 76.00% of the stock is currently owned by 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.