Science Applications International (NYSE:SAIC) Cut to “Hold” at TD Cowen

TD Cowen cut shares of Science Applications International (NYSE:SAIC) from a buy rating to a hold rating in a report released on Wednesday morning, Marketbeat reports. TD Cowen currently has $120.00 target price on the information technology services provider’s stock, down from their prior target price of $155.00.

Other analysts have also issued research reports about the company. The Goldman Sachs Group cut their price objective on Science Applications International from $124.00 to $103.00 and set a “sell” rating for the company in a report on Thursday, December 12th. StockNews.com raised Science Applications International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Barclays raised their price objective on 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. Wells Fargo & Company raised their price target on Science Applications International from $147.00 to $154.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, 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. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $139.38.

Science Applications International Trading Up 2.1 %

NYSE SAIC opened at $116.14 on Wednesday. The stock’s 50 day moving average is $122.20 and its 200 day moving average is $127.68. The firm has a market capitalization of $5.68 billion, a PE ratio of 19.59 and a beta of 0.66. Science Applications International has a twelve month low of $108.90 and a twelve month high of $156.34. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20.

Science Applications International Dividend Announcement

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

Insider Activity

In other Science Applications International news, EVP Barbara Supplee bought 425 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average cost of $116.36 per share, for a total transaction of $49,453.00. Following the purchase, the executive vice president now directly owns 3,579 shares in the company, valued at $416,452.44. This represents a 13.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.67% of the company’s stock.

Institutional Trading of Science Applications International

A number of hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in Science Applications International by 1.0% during the third quarter. State Street Corp now owns 1,577,757 shares of the information technology services provider’s stock worth $219,734,000 after purchasing an additional 15,166 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Science Applications International by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,108,748 shares of the information technology services provider’s stock worth $130,333,000 after purchasing an additional 56,414 shares in the last quarter. Geode Capital Management LLC boosted its position in Science Applications International by 1.9% during the third quarter. Geode Capital Management LLC now owns 985,105 shares of the information technology services provider’s stock worth $137,227,000 after purchasing an additional 18,102 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Science Applications International by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 518,915 shares of the information technology services provider’s stock worth $72,269,000 after purchasing an additional 6,780 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Science Applications International by 8.1% during the second quarter. American Century Companies Inc. now owns 378,765 shares of the information technology services provider’s stock worth $44,524,000 after purchasing an additional 28,304 shares in the last quarter. Hedge funds and other institutional investors 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.