Truist Financial Increases Science Applications International (NYSE:SAIC) Price Target to $135.00

Science Applications International (NYSE:SAIC) had its target price raised by Truist Financial from $125.00 to $135.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a hold rating on the information technology services provider’s stock.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of Science Applications International from $140.00 to $132.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. StockNews.com lowered shares of Science Applications International from a buy rating to a hold rating in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $138.29.

Science Applications International Price Performance

Shares of NYSE:SAIC opened at $134.58 on Friday. Science Applications International has a 12 month low of $104.26 and a 12 month high of $145.17. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 15.76 and a beta of 0.70. The stock’s 50 day moving average price is $123.41 and its 200 day moving average price is $127.21. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85.

Science Applications International (NYSE:SAIC) last announced its earnings results on Thursday, September 5th. The information technology services provider reported $2.05 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous 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. Equities research analysts anticipate that Science Applications International will post 8.07 earnings per share for the current fiscal year.

Science Applications International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.10%. The ex-dividend date is Friday, October 11th. Science Applications International’s payout ratio is 17.33%.

Insiders Place Their Bets

In other news, EVP James Joshua Jackson acquired 400 shares of the stock in a transaction on Wednesday, July 10th. The shares were purchased at an average cost of $114.28 per share, for a total transaction of $45,712.00. Following the transaction, the executive vice president now owns 13,677 shares in the company, valued at approximately $1,563,007.56. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP James Joshua Jackson acquired 400 shares of the stock in a transaction on Wednesday, July 10th. The shares were purchased at an average cost of $114.28 per share, for a total transaction of $45,712.00. Following the transaction, the executive vice president now owns 13,677 shares in the company, valued at approximately $1,563,007.56. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michelle A. O’hara acquired 1,000 shares of the stock in a transaction on Friday, July 12th. The shares were purchased at an average price of $118.00 per share, for a total transaction of $118,000.00. Following the completion of the transaction, the executive vice president now owns 33,497 shares in the company, valued at approximately $3,952,646. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,715 shares of company stock worth $200,507. Corporate insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Science Applications International

Hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC acquired a new position in shares of Science Applications International in the second quarter worth $27,000. Parallel Advisors LLC increased its stake in shares of Science Applications International by 62.9% in the fourth 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 during the last quarter. Fifth Third Bancorp increased its stake in shares of Science Applications International by 30.4% in the second quarter. Fifth Third Bancorp now owns 360 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 84 shares during the last quarter. CWM LLC increased its stake in shares of Science Applications International by 56.8% in the second quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 147 shares during the last quarter. Finally, FinTrust Capital Advisors LLC increased its stake in shares of Science Applications International by 150.3% in the first quarter. FinTrust Capital Advisors LLC now owns 473 shares of the information technology services provider’s stock worth $62,000 after acquiring an additional 284 shares during 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.