Wells Fargo & Company Cuts Science Applications International (NYSE:SAIC) Price Target to $149.00

Science Applications International (NYSE:SAIC) had its target price cut by Wells Fargo & Company from $154.00 to $149.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

SAIC has been the topic of several other research reports. JPMorgan Chase & Co. dropped their target price on Science Applications International from $170.00 to $148.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. StockNews.com raised Science Applications International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group cut their target price on shares of Science Applications International from $124.00 to $103.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. TD Cowen downgraded shares of Science Applications International from a “buy” rating to a “hold” rating and cut their target price for the company from $155.00 to $120.00 in a research note on Wednesday. Finally, Barclays boosted their price target on shares of Science Applications International from $135.00 to $150.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Science Applications International presently has an average rating of “Hold” and a consensus price target of $139.38.

Science Applications International Stock Performance

Shares of SAIC stock opened at $116.14 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20. The business has a 50 day moving average of $122.20 and a two-hundred day moving average of $127.68. The company has a market cap of $5.68 billion, a P/E ratio of 19.59 and a beta of 0.66. Science Applications International has a 52 week low of $108.90 and a 52 week high of $156.34.

Science Applications International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Friday, January 10th. Science Applications International’s dividend payout ratio (DPR) is 24.96%.

Insider Buying and Selling at Science Applications International

In related news, EVP Barbara Supplee acquired 425 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average price of $116.36 per share, with a total value of $49,453.00. Following the completion of the transaction, the executive vice president now owns 3,579 shares of the company’s stock, valued at approximately $416,452.44. This represents a 13.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its position in Science Applications International by 30,868.8% in the third quarter. Farther Finance Advisors LLC now owns 4,955 shares of the information technology services provider’s stock worth $690,000 after purchasing an additional 4,939 shares in the last quarter. Seizert Capital Partners LLC grew its stake in Science Applications International by 36.3% during the third quarter. Seizert Capital Partners LLC now owns 38,803 shares of the information technology services provider’s stock worth $5,404,000 after buying an additional 10,326 shares during the last quarter. Van ECK Associates Corp grew its stake in Science Applications International by 21.9% during the third quarter. Van ECK Associates Corp now owns 250,589 shares of the information technology services provider’s stock worth $36,070,000 after buying an additional 44,990 shares during the last quarter. Cassaday & Co Wealth Management LLC grew its stake in Science Applications International by 59.7% during the third quarter. Cassaday & Co Wealth Management LLC now owns 12,834 shares of the information technology services provider’s stock worth $1,787,000 after buying an additional 4,796 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Science Applications International by 36,732.4% during the third quarter. International Assets Investment Management LLC now owns 245,672 shares of the information technology services provider’s stock worth $34,215,000 after buying an additional 245,005 shares during the last quarter. Institutional investors and hedge funds own 76.00% of the company’s stock.

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.