Science Applications International (NYSE:SAIC) Raised to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Science Applications International (NYSE:SAIC) from a neutral rating to an overweight rating in a research report sent to investors on Wednesday, MarketBeat reports. JPMorgan Chase & Co. currently has $170.00 price objective on the information technology services provider’s stock, up from their previous price objective of $150.00.

Several other brokerages have also recently commented on SAIC. Truist Financial increased their price target on Science Applications International from $125.00 to $135.00 and gave the company a hold rating in a research report on Friday, September 6th. TD Cowen raised their target price on shares of Science Applications International from $145.00 to $155.00 and gave the company a buy rating in a research note on Friday, September 6th. Citigroup upped their price target on shares of Science Applications International from $155.00 to $160.00 and gave the stock a buy rating in a research report on Friday, September 6th. Barclays lifted their price objective on shares of Science Applications International from $135.00 to $150.00 and gave the company an equal weight rating in a research report on Monday, September 16th. Finally, StockNews.com upgraded shares of Science Applications International from a hold rating to a buy rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $146.14.

Science Applications International Price Performance

Shares of SAIC opened at $145.64 on Wednesday. The company has a 50 day moving average of $130.53 and a 200-day moving average of $126.98. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $7.46 billion, a P/E ratio of 17.05 and a beta of 0.70. Science Applications International has a twelve month low of $104.46 and a twelve month high of $145.97.

Science Applications International (NYSE:SAIC) last issued its quarterly earnings results on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.19. Science Applications International had a net margin of 3.97% and a return on equity of 22.88%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the business earned $2.05 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts forecast that Science Applications International will post 8.17 EPS for the current fiscal year.

Science Applications International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, October 11th. Science Applications International’s payout ratio is presently 17.33%.

Insider Transactions at Science Applications International

In other news, EVP Michelle A. O’hara acquired 1,000 shares of Science Applications International stock in a transaction dated Friday, July 12th. The stock was bought at an average price of $118.00 per share, for a total transaction of $118,000.00. Following the completion of the acquisition, the executive vice president now directly owns 33,497 shares in the company, valued at approximately $3,952,646. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Michelle A. O’hara bought 1,000 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was bought at an average price of $118.00 per share, with a total value of $118,000.00. Following the completion of the acquisition, the executive vice president now owns 33,497 shares of the company’s stock, valued at $3,952,646. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP James Joshua Jackson purchased 400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was acquired at an average price of $114.28 per share, for a total transaction of $45,712.00. Following the completion of the purchase, the executive vice president now directly owns 13,677 shares of the company’s stock, valued at $1,563,007.56. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 1,550 shares of company stock worth $184,319. 0.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SAIC. Larson Financial Group LLC bought a new stake in shares of Science Applications International in the second quarter valued at approximately $27,000. Parallel Advisors LLC lifted its position in shares of 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 valued at $32,000 after acquiring an additional 100 shares during the period. Fifth Third Bancorp grew its holdings in shares of Science Applications International by 30.4% during the 2nd quarter. Fifth Third Bancorp now owns 360 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 84 shares in the last quarter. CWM LLC increased its position 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 purchasing an additional 147 shares during the period. Finally, FinTrust Capital Advisors LLC raised its stake in 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 valued at $62,000 after purchasing an additional 284 shares in the last quarter. 76.00% of the stock is owned by institutional investors.

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.