Science Applications International Corporation (NYSE:SAIC) reached a new 52-week low on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $62.64 and last traded at $62.67, with a volume of 1,169,029 shares changing hands. The stock had previously closed at $74.66.

The information technology services provider reported $0.89 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by $0.02. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Science Applications International Corporation had a net margin of 3.78% and a return on equity of 47.08%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company posted $0.85 EPS.

A number of analysts have commented on SAIC shares. Cowen and Company reaffirmed a “hold” rating and set a $75.00 price target on shares of Science Applications International Corporation in a research report on Monday, May 15th. Zacks Investment Research raised shares of Science Applications International Corporation from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Thursday, June 1st. Wells Fargo & Company reaffirmed a “market perform” rating and set a $75.00 price target (down previously from $80.00) on shares of Science Applications International Corporation in a research report on Tuesday, June 13th. ValuEngine cut shares of Science Applications International Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $66.00 price target on shares of Science Applications International Corporation in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $80.00.

In other news, insider Douglas Martin Wagoner sold 1,524 shares of the stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $71.58, for a total transaction of $109,087.92. Following the transaction, the insider now owns 106,147 shares of the company’s stock, valued at approximately $7,598,002.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 44,472 shares of company stock worth $3,119,732 in the last three months. Insiders own 2.28% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Tyers Asset Management LLC boosted its position in shares of Science Applications International Corporation by 11.8% during the 1st quarter. Tyers Asset Management LLC now owns 1,360 shares of the information technology services provider’s stock worth $101,000 after purchasing an additional 144 shares in the last quarter. Sei Investments Co. boosted its position in shares of Science Applications International Corporation by 2.9% during the 1st quarter. Sei Investments Co. now owns 1,385 shares of the information technology services provider’s stock worth $103,000 after purchasing an additional 39 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in shares of Science Applications International Corporation during the 1st quarter worth about $132,000. Bank of Montreal Can boosted its position in shares of Science Applications International Corporation by 128.3% during the 2nd quarter. Bank of Montreal Can now owns 1,906 shares of the information technology services provider’s stock worth $132,000 after purchasing an additional 1,071 shares in the last quarter. Finally, Elkfork Partners LLC boosted its position in shares of Science Applications International Corporation by 11.8% during the 1st quarter. Elkfork Partners LLC now owns 1,870 shares of the information technology services provider’s stock worth $139,000 after purchasing an additional 198 shares in the last quarter. 63.79% of the stock is currently owned by institutional investors.

The stock has a 50-day moving average price of $71.09 and a 200-day moving average price of $75.32. The company has a market cap of $2.67 billion, a P/E ratio of 17.00 and a beta of 1.64.

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Science Applications International Corporation Company Profile

Science Applications International Corporation (SAIC) is a provider of technical, engineering and enterprise information technology (IT) services. The Company provides its services primarily to the United States Government, including the Department of Defense (DoD), the intelligence community and federal civilian agencies.

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