JPMorgan Chase & Co. Has Lowered Expectations for Science Applications International (NYSE:SAIC) Stock Price

Science Applications International (NYSE:SAIC) had its price objective cut by research analysts at JPMorgan Chase & Co. from $170.00 to $148.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 25.36% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company upped their price target on Science Applications International from $147.00 to $154.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup upped their price objective on shares of Science Applications International from $160.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, October 10th. StockNews.com downgraded shares of Science Applications International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. Truist Financial upped their price target 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, UBS Group assumed 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 objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $145.25.

Science Applications International Stock Performance

Shares of SAIC stock opened at $118.06 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.85 and a current ratio of 0.85. The firm 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 52 week low of $112.00 and a 52 week high of $156.34. The firm’s 50-day simple moving average is $138.09 and its two-hundred day simple moving average is $129.43.

Science Applications International (NYSE:SAIC) last posted its quarterly earnings results on Thursday, September 5th. The information technology services provider reported $2.05 EPS for the quarter, topping analysts’ consensus estimates 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 firm posted $2.05 EPS. Science Applications International’s revenue was up 2.0% on a year-over-year basis. As a group, equities analysts forecast that Science Applications International will post 8.57 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp increased its position 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 worth $42,000 after purchasing an additional 84 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Science Applications International by 0.5% in the 2nd quarter. Cetera Investment Advisers now owns 19,060 shares of the information technology services provider’s stock worth $2,240,000 after buying an additional 87 shares during the last quarter. Bank of Montreal Can raised its position in shares of Science Applications International by 1.2% during the 2nd quarter. Bank of Montreal Can now owns 7,425 shares of the information technology services provider’s stock valued at $878,000 after buying an additional 90 shares in the last quarter. CWM LLC lifted its holdings in shares of Science Applications International by 56.8% during 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 during the last quarter. Finally, Arizona State Retirement System grew its position in Science Applications International by 1.1% in the second quarter. Arizona State Retirement System now owns 14,460 shares of the information technology services provider’s stock worth $1,700,000 after acquiring an additional 152 shares in the last quarter. 76.00% of the stock is currently owned by hedge funds and other 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.