Wells Fargo & Company Cuts Science Applications International (NYSE:SAIC) Price Target to $132.00

Science Applications International (NYSE:SAIC) had its target price lowered by Wells Fargo & Company from $148.00 to $132.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.

Other equities research analysts have also issued research reports about the stock. Truist Financial lowered their target price on shares of Science Applications International from $135.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. StockNews.com raised shares of Science Applications International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. TD Cowen cut shares of Science Applications International from a “buy” rating to a “hold” rating and cut their target price for the company from $155.00 to $120.00 in a research note on Wednesday, January 8th. Cantor Fitzgerald upgraded Science Applications International to a “hold” rating in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group cut their price objective on Science Applications International from $124.00 to $103.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $132.22.

Science Applications International Stock Up 0.0 %

Science Applications International stock opened at $112.96 on Tuesday. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 19.05 and a beta of 0.58. The firm has a fifty day moving average price of $106.56 and a two-hundred day moving average price of $119.94. Science Applications International has a fifty-two week low of $94.68 and a fifty-two week high of $156.34. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.87 and a quick ratio of 0.87.

Science Applications International (NYSE:SAIC) last announced its quarterly earnings data on Monday, March 17th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.57. Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter last year, the company posted $1.43 earnings per share. Science Applications International’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts forecast that Science Applications International will post 8.27 earnings per share for the current year.

Science Applications International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.48 annualized dividend and a yield of 1.31%. Science Applications International’s dividend payout ratio (DPR) is presently 20.58%.

Insider Transactions at Science Applications International

In other Science Applications International news, Director Katharina G. Mcfarland sold 3,239 shares of Science Applications International stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $117.70, for a total value of $381,230.30. Following the transaction, the director now owns 6,864 shares in the company, valued at $807,892.80. The trade was a 32.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carolyn B. Handlon purchased 230 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average cost of $109.93 per share, for a total transaction of $25,283.90. Following the completion of the acquisition, the director now directly owns 4,032 shares in the company, valued at $443,237.76. The trade was a 6.05 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 3,045 shares of company stock valued at $339,935. 0.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Science Applications International in the fourth quarter worth approximately $63,572,000. Fuller & Thaler Asset Management Inc. raised its holdings in Science Applications International by 27.0% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,186,547 shares of the information technology services provider’s stock worth $244,412,000 after purchasing an additional 464,989 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Science Applications International in the 4th quarter worth approximately $34,909,000. AQR Capital Management LLC boosted its stake in shares of Science Applications International by 68.4% in the 4th quarter. AQR Capital Management LLC now owns 443,246 shares of the information technology services provider’s stock valued at $49,413,000 after purchasing an additional 179,963 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Science Applications International during the fourth quarter worth $18,694,000. Institutional investors and hedge funds own 76.00% of the company’s stock.

Science Applications International Company Profile

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.