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

StockNews.com upgraded shares of Science Applications International (NYSE:SAIC) from a buy rating to a strong-buy rating in a research note released on Monday.

A number of other research firms have also recently issued reports on SAIC. Wells Fargo & Company increased their target price on Science Applications International from $122.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Truist Financial increased their target price on Science Applications International from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. TD Cowen increased their target price 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 increased their target price 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. Finally, JPMorgan Chase & Co. raised Science Applications International from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $150.00 to $170.00 in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $150.43.

Science Applications International Stock Performance

Shares of SAIC stock opened at $147.64 on Monday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $7.31 billion, a PE ratio of 26.55 and a beta of 0.70. The stock has a 50-day moving average of $134.67 and a 200-day moving average of $128.04. Science Applications International has a one year low of $105.97 and a one year high of $148.57.

Science Applications International (NYSE:SAIC) last announced its quarterly earnings results on Thursday, September 5th. The information technology services provider reported $2.05 EPS for the quarter, beating 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 company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the business posted $2.05 EPS. Science Applications International’s revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts expect that Science Applications International will post 8.2 earnings per share for the current year.

Science Applications International Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, October 11th. Science Applications International’s dividend payout ratio (DPR) is currently 26.62%.

Hedge Funds Weigh In On Science Applications International

A number of large investors have recently bought and sold shares of SAIC. Wellington Management Group LLP boosted its position in Science Applications International by 5.0% during the 4th quarter. Wellington Management Group LLP now owns 4,062,059 shares of the information technology services provider’s stock worth $504,995,000 after acquiring an additional 194,160 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Science Applications International by 122.7% in 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 buying an additional 113,260 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Science Applications International in the 1st quarter valued at approximately $11,044,000. Dimensional Fund Advisors LP boosted its holdings in shares of Science Applications International by 5.4% in 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 buying an additional 56,414 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Science Applications International by 53.9% in the 1st quarter. Sei Investments Co. now owns 86,541 shares of the information technology services provider’s stock valued at $11,284,000 after buying an additional 30,325 shares during the last quarter. Institutional investors and hedge funds own 76.00% of the company’s stock.

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.