Science Applications International (NYSE:SAIC) Upgraded by StockNews.com to Buy

Science Applications International (NYSE:SAIC) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other brokerages also recently issued reports on SAIC. The Goldman Sachs Group reduced their price objective on Science Applications International from $113.00 to $110.00 and set a “sell” rating on the stock in a research report on Thursday, February 29th. JPMorgan Chase & Co. decreased their price target on shares of Science Applications International from $142.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 19th. Truist Financial reissued a “hold” rating and issued a $130.00 price objective on shares of Science Applications International in a research report on Friday, April 12th. Finally, Wells Fargo & Company raised their target price on shares of Science Applications International from $141.00 to $143.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $127.60.

Science Applications International Stock Performance

Shares of SAIC opened at $123.18 on Wednesday. Science Applications International has a 12-month low of $95.43 and a 12-month high of $145.17. The stock has a market cap of $6.36 billion, a P/E ratio of 13.92 and a beta of 0.70. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 1.13. The company has a 50-day moving average of $133.22 and a two-hundred day moving average of $124.60.

Science Applications International (NYSE:SAIC) last issued its quarterly earnings data on Monday, March 18th. The information technology services provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.01). The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Science Applications International had a return on equity of 23.73% and a net margin of 6.41%. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period last year, the business earned $2.04 earnings per share. As a group, research analysts predict that Science Applications International will post 8.11 EPS for the current fiscal year.

Insider Buying and Selling at Science Applications International

In other Science Applications International news, EVP Vincent P. Difronzo purchased 795 shares of the stock in a transaction on Friday, April 12th. The stock was bought at an average price of $126.04 per share, for a total transaction of $100,201.80. Following the acquisition, the executive vice president now directly owns 8,772 shares of the company’s stock, valued at $1,105,622.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Science Applications International news, EVP Vincent P. Difronzo purchased 795 shares of the stock in a transaction on Friday, April 12th. The stock was bought at an average price of $126.04 per share, for a total transaction of $100,201.80. Following the acquisition, the executive vice president now directly owns 8,772 shares of the company’s stock, valued at $1,105,622.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Katharina G. Mcfarland sold 760 shares of Science Applications International stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $125.64, for a total value of $95,486.40. Following the completion of the transaction, the director now directly owns 8,653 shares in the company, valued at $1,087,162.92. The disclosure for this sale can be found here. 1.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Science Applications International

Several hedge funds and other institutional investors have recently modified their holdings of the company. Contravisory Investment Management Inc. acquired a new position in Science Applications International during the 4th quarter worth approximately $25,000. CVA Family Office LLC acquired a new position in Science Applications International during the 4th quarter worth approximately $26,000. Quarry LP lifted its position in Science Applications International by 100.0% during the 2nd quarter. Quarry LP now owns 218 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 109 shares in the last quarter. Gradient Investments LLC lifted its position in Science Applications International by 1,104.8% during the 3rd quarter. Gradient Investments LLC now owns 253 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 232 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in Science Applications International by 62.9% during the 4th quarter. Parallel Advisors LLC now owns 259 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. 76.00% of the stock is owned by institutional investors and hedge funds.

About Science Applications International

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.