Wells Fargo & Company Issues Positive Forecast for Science Applications International (NYSE:SAIC) Stock Price

Science Applications International (NYSE:SAIC) had its price objective increased by Wells Fargo & Company from $139.00 to $148.00 in a report released on Tuesday,Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

Several other research firms have also recently weighed in on SAIC. JPMorgan Chase & Co. decreased their price target on Science Applications International from $170.00 to $148.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. UBS Group began coverage on Science Applications International in a research report on Monday, December 2nd. They set a “neutral” rating and a $134.00 price objective for the company. The Goldman Sachs Group reduced their price objective on Science Applications International from $124.00 to $103.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. TD Cowen cut Science Applications International from a “buy” rating to a “hold” rating and reduced their price objective for the company from $155.00 to $120.00 in a research report on Wednesday, January 8th. Finally, Cantor Fitzgerald upgraded Science Applications International to a “hold” rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Science Applications International has an average rating of “Hold” and a consensus target price of $134.00.

Science Applications International Stock Up 1.4 %

Shares of NYSE:SAIC opened at $113.44 on Tuesday. The stock has a fifty day simple moving average of $107.39 and a two-hundred day simple moving average of $122.86. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 19.13 and a beta of 0.66. Science Applications International has a 12-month low of $94.68 and a 12-month high of $156.34. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20.

Science Applications International (NYSE:SAIC) last posted its quarterly earnings results on Monday, March 17th. The information technology services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.57. Science Applications International had a return on equity of 24.18% and a net margin of 4.11%. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the business earned $1.43 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. On average, research analysts anticipate that Science Applications International will post 8.27 earnings per share for the current fiscal year.

Science Applications International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, April 11th. Science Applications International’s dividend payout ratio (DPR) is 24.96%.

Insider Transactions at Science Applications International

In other news, Director Katharina G. Mcfarland sold 3,239 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $117.70, for a total value of $381,230.30. Following the completion of the transaction, the director now owns 6,864 shares of the company’s stock, valued at $807,892.80. This represents a 32.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Science Applications International

Hedge funds have recently made changes to their positions in the business. Cornerstone Planning Group LLC bought a new position in shares of Science Applications International in the fourth quarter worth about $28,000. True Wealth Design LLC purchased a new position in Science Applications International during the 4th quarter valued at approximately $48,000. Quarry LP purchased a new position in Science Applications International during the 3rd quarter valued at approximately $71,000. Kapitalo Investimentos Ltda purchased a new position in Science Applications International during the 4th quarter valued at approximately $58,000. Finally, Jones Financial Companies Lllp grew its holdings in Science Applications International by 32.3% during the 4th quarter. Jones Financial Companies Lllp now owns 639 shares of the information technology services provider’s stock valued at $71,000 after buying an additional 156 shares in the last quarter. 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.