Science Applications International Corporation (NYSE:SAIC) saw a significant increase in short interest in September. As of September 15th, there was short interest totalling 984,318 shares, an increase of 46.1% from the August 31st total of 673,631 shares. Approximately 2.3% of the company’s shares are short sold. Based on an average daily volume of 586,195 shares, the days-to-cover ratio is presently 1.7 days.

Shares of Science Applications International Corporation (SAIC) opened at 67.87 on Tuesday. Science Applications International Corporation has a 12-month low of $60.21 and a 12-month high of $89.87. The company’s 50-day moving average price is $68.24 and its 200 day moving average price is $72.44. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 18.96 and a beta of 1.61.

Science Applications International Corporation (NYSE:SAIC) last announced its quarterly earnings results on Thursday, September 7th. The information technology services provider reported $0.89 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.02). The business 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 3.77% and a return on equity of 48.69%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 EPS. Equities analysts predict that Science Applications International Corporation will post $3.61 earnings per share for the current year.

Several research firms have recently weighed in on SAIC. ValuEngine cut Science Applications International Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Wells Fargo & Company restated a “market perform” rating and set a $75.00 target price (down from $80.00) on shares of Science Applications International Corporation in a report on Tuesday, June 13th. Zacks Investment Research lowered shares of Science Applications International Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 8th. Cowen and Company reaffirmed a “hold” rating and issued a $75.00 price target on shares of Science Applications International Corporation in a research note on Friday, September 8th. Finally, Jefferies Group LLC cut shares of Science Applications International Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $80.00.

Several hedge funds and other institutional investors have recently modified their holdings of SAIC. Prudential Financial Inc. increased its position in shares of Science Applications International Corporation by 80.7% during the second quarter. Prudential Financial Inc. now owns 544,348 shares of the information technology services provider’s stock worth $37,788,000 after acquiring an additional 243,080 shares in the last quarter. Comerica Bank raised its holdings in shares of Science Applications International Corporation by 0.3% in the 2nd quarter. Comerica Bank now owns 56,824 shares of the information technology services provider’s stock worth $3,958,000 after acquiring an additional 191 shares during the last quarter. Smith Asset Management Group LP raised its holdings in shares of Science Applications International Corporation by 0.7% in the 2nd quarter. Smith Asset Management Group LP now owns 45,653 shares of the information technology services provider’s stock worth $3,169,000 after acquiring an additional 330 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Science Applications International Corporation by 0.8% in the 1st quarter. Principal Financial Group Inc. now owns 194,988 shares of the information technology services provider’s stock worth $14,508,000 after acquiring an additional 1,571 shares during the last quarter. Finally, Sandy Spring Bank raised its holdings in shares of Science Applications International Corporation by 35.1% in the 2nd quarter. Sandy Spring Bank now owns 27,722 shares of the information technology services provider’s stock worth $1,925,000 after acquiring an additional 7,209 shares during the last quarter. Hedge funds and other institutional investors own 64.42% of the company’s stock.

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About Science Applications International Corporation

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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