Wells Fargo & Company Cuts Science Applications International (NYSE:SAIC) Price Target to $139.00

Science Applications International (NYSE:SAIC) had its price objective decreased by Wells Fargo & Company from $149.00 to $139.00 in a research report report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the information technology services provider’s stock.

A number of other equities analysts have also recently commented on SAIC. The Goldman Sachs Group reduced their price target on Science Applications International from $124.00 to $103.00 and set a “sell” rating for the company in a report on Thursday, December 12th. TD Cowen lowered Science Applications International from a “buy” rating to a “hold” rating and decreased their target price for the stock from $155.00 to $120.00 in a report on Wednesday, January 8th. StockNews.com upgraded Science Applications International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Cantor Fitzgerald raised shares of Science Applications International to a “hold” rating in a research report on Tuesday. Finally, UBS Group initiated coverage on shares of Science Applications International in a research report on Monday, December 2nd. They issued a “neutral” rating and a $134.00 price objective on the stock. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $136.11.

Science Applications International Stock Performance

Shares of SAIC stock opened at $98.79 on Wednesday. The company has a fifty day moving average price of $108.91 and a two-hundred day moving average price of $124.69. Science Applications International has a one year low of $95.59 and a one year high of $156.34. The stock has a market cap of $4.83 billion, a P/E ratio of 16.66 and a beta of 0.66. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 10th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Friday, January 10th. Science Applications International’s dividend payout ratio is 24.96%.

Insiders Place Their Bets

In related news, Director Katharina G. Mcfarland sold 3,239 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $117.70, for a total transaction of $381,230.30. Following the sale, the director now owns 6,864 shares of the company’s stock, valued at $807,892.80. This represents a 32.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Barbara Supplee acquired 425 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was bought at an average cost of $116.36 per share, with a total value of $49,453.00. Following the completion of the acquisition, the executive vice president now directly owns 3,579 shares in the company, valued at approximately $416,452.44. This represents a 13.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Science Applications International during the fourth quarter worth about $3,382,000. Jefferies Financial Group Inc. acquired a new stake in shares of Science Applications International during the 4th quarter worth approximately $1,706,000. Formidable Asset Management LLC acquired a new stake in shares of Science Applications International during the 4th quarter worth approximately $423,000. Public Employees Retirement System of Ohio bought a new position in Science Applications International in the fourth quarter valued at approximately $2,023,000. Finally, CSS LLC IL acquired a new position in Science Applications International during the fourth quarter valued at approximately $437,000. Institutional investors 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.