Science Applications International (NYSE:SAIC) Cut to Buy at StockNews.com

Science Applications International (NYSE:SAIC) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

Several other research analysts also recently commented on SAIC. TD Cowen raised their price objective on Science Applications International from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Citigroup raised their price objective on Science Applications International from $160.00 to $176.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Truist Financial lifted their target price on Science Applications International from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. raised Science Applications International from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $150.00 to $170.00 in a research note on Wednesday, October 2nd. Finally, Barclays lifted their target price 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. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $150.43.

Science Applications International Stock Performance

Shares of SAIC stock opened at $143.94 on Tuesday. 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 company has a market capitalization of $7.13 billion, a P/E ratio of 25.89 and a beta of 0.70. The stock has a 50 day moving average price of $136.52 and a two-hundred day moving average price of $128.49. Science Applications International has a fifty-two week low of $105.97 and a fifty-two week high of $148.65.

Science Applications International (NYSE:SAIC) last posted its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.19. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the company earned $2.05 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts expect that Science Applications International will post 8.2 earnings per share for the current year.

Hedge Funds Weigh In On Science Applications International

A number of institutional investors and hedge funds have recently modified their holdings of SAIC. International Assets Investment Management LLC raised its position in Science Applications International by 36,732.4% during the 3rd quarter. International Assets Investment Management LLC now owns 245,672 shares of the information technology services provider’s stock valued at $34,215,000 after purchasing an additional 245,005 shares in the last quarter. Van ECK Associates Corp grew its stake in Science Applications International by 122.7% during the 2nd quarter. Van ECK Associates Corp now owns 205,599 shares of the information technology services provider’s stock valued at $24,168,000 after purchasing an additional 113,260 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Science Applications International by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,108,748 shares of the information technology services provider’s stock valued at $130,333,000 after purchasing an additional 56,414 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Science Applications International by 53.9% in the first quarter. Sei Investments Co. now owns 86,541 shares of the information technology services provider’s stock worth $11,284,000 after buying an additional 30,325 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Science Applications International by 8.1% in 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 buying an additional 28,304 shares during 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.