StockNews.com Upgrades Science Applications International (NYSE:SAIC) to “Strong-Buy”

Posted by Defense World Staff on Jul 14th, 2023

Science Applications International (NYSE:SAIC – Get Free Report) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

A number of other analysts have also recently issued reports on the company. Truist Financial dropped their price objective on Science Applications International from $120.00 to $115.00 in a report on Tuesday, June 6th. Stifel Nicolaus increased their price target on shares of Science Applications International from $110.00 to $112.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Citigroup reduced their price objective on shares of Science Applications International from $141.00 to $127.00 and set a “buy” rating for the company in a research note on Tuesday, April 4th. Wells Fargo & Company lowered their target price on shares of Science Applications International from $121.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 4th. Finally, The Goldman Sachs Group boosted their price target on shares of Science Applications International from $90.00 to $97.00 and gave the company a “sell” rating in a research report on Wednesday, April 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Science Applications International currently has a consensus rating of “Hold” and a consensus price target of $113.29.

Science Applications International Trading Up 0.1 %

Shares of Science Applications International stock opened at $114.49 on Wednesday. The stock has a market capitalization of $6.15 billion, a P/E ratio of 19.47 and a beta of 0.74. Science Applications International has a 52-week low of $87.93 and a 52-week high of $117.94. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.03 and a current ratio of 1.08. The stock’s 50-day simple moving average is $105.01 and its 200 day simple moving average is $105.48.

Science Applications International (NYSE:SAIC – Get Free Report) last posted its quarterly earnings results on Monday, June 5th. The information technology services provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.31. Science Applications International had a net margin of 4.20% and a return on equity of 25.68%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the firm posted $1.88 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, research analysts anticipate that Science Applications International will post 7.11 EPS for the current year.

Insider Transactions at Science Applications International

In other news, insider Robert S. Genter sold 3,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $107.70, for a total value of $323,100.00. Following the completion of the transaction, the insider now directly owns 58,655 shares in the company, valued at approximately $6,317,143.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Science Applications International

A number of institutional investors have recently made changes to their positions in SAIC. Thrivent Financial for Lutherans grew its position in shares of Science Applications International by 0.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 14,738 shares of the information technology services provider’s stock worth $1,303,000 after buying an additional 94 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Science Applications International by 2.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,806 shares of the information technology services provider’s stock valued at $421,000 after purchasing an additional 95 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of Science Applications International by 3.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 3,312 shares of the information technology services provider’s stock worth $367,000 after acquiring an additional 96 shares during the period. NorthCrest Asset Manangement LLC raised its position in shares of Science Applications International by 1.5% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 6,800 shares of the information technology services provider’s stock worth $754,000 after acquiring an additional 100 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Science Applications International by 1.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,738 shares of the information technology services provider’s stock valued at $747,000 after purchasing an additional 107 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

About Science Applications International

(Get Free Report)

Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company's offerings include engineering; technology integration; IT modernization; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; 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 cloud migration, managed services, infrastructure modernization, and enterprise IT-as-a-service solutions; and data management platform solutions.