JPMorgan Chase & Co. Cuts Science Applications International (NYSE:SAIC) Price Target to $140.00

Science Applications International (NYSE:SAIC) had its price target cut by JPMorgan Chase & Co. from $148.00 to $140.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

Several other equities research analysts have also recently issued reports on SAIC. StockNews.com raised Science Applications International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. TD Cowen lowered shares of Science Applications International from a “buy” rating to a “hold” rating and reduced their price objective for the company from $155.00 to $120.00 in a report on Wednesday, January 8th. Cantor Fitzgerald raised shares of Science Applications International to a “hold” rating in a research note on Tuesday, February 25th. UBS Group boosted their price target on shares of Science Applications International from $123.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, March 18th. Finally, Wells Fargo & Company lowered their price objective on shares of Science Applications International from $148.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $131.33.

Science Applications International Stock Up 0.3 %

NYSE SAIC opened at $116.71 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20. Science Applications International has a 52 week low of $94.68 and a 52 week high of $156.34. The business’s fifty day simple moving average is $107.61 and its 200-day simple moving average is $119.36. The firm has a market cap of $5.57 billion, a PE ratio of 19.68 and a beta of 0.58.

Science Applications International (NYSE:SAIC) last issued its earnings results on Monday, March 17th. The information technology services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. Science Applications International’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that Science Applications International will post 8.27 earnings per share for the current year.

Science Applications International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, April 11th. Science Applications International’s payout ratio is currently 20.58%.

Insider Buying and Selling

In related news, Director Garth Graham acquired 215 shares of the firm’s stock in a transaction dated Monday, April 14th. The stock was acquired at an average price of $116.75 per share, for a total transaction of $25,101.25. Following the purchase, the director now owns 7,159 shares of the company’s stock, valued at $835,813.25. This represents a 3.10 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carolyn B. Handlon bought 230 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average price of $109.93 per share, for a total transaction of $25,283.90. Following the completion of the purchase, the director now directly owns 4,032 shares of the company’s stock, valued at approximately $443,237.76. This trade represents a 6.05 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 3,260 shares of company stock valued at $365,037 in the last three months. 0.67% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Science Applications International

A number of institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in Science Applications International by 18.7% during the 4th quarter. Empowered Funds LLC now owns 5,549 shares of the information technology services provider’s stock worth $620,000 after buying an additional 874 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Science Applications International during the 4th quarter worth about $312,000. Pure Financial Advisors LLC lifted its stake in Science Applications International by 19.0% during the fourth quarter. Pure Financial Advisors LLC now owns 18,447 shares of the information technology services provider’s stock worth $2,062,000 after purchasing an additional 2,946 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Science Applications International by 1.9% in the third quarter. Geode Capital Management LLC now owns 985,105 shares of the information technology services provider’s stock valued at $137,227,000 after purchasing an additional 18,102 shares in the last quarter. Finally, Truist Financial Corp increased its stake in Science Applications International by 6.4% in the fourth quarter. Truist Financial Corp now owns 3,850 shares of the information technology services provider’s stock valued at $430,000 after purchasing an additional 233 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.