Science Applications International (NASDAQ:SAIC) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Science Applications International (NASDAQ:SAIC) from a strong-buy rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also recently issued reports on SAIC. BNP Paribas Exane initiated coverage on Science Applications International in a report on Wednesday, May 27th. They set a “neutral” rating and a $95.00 price objective for the company. UBS Group lifted their price objective on Science Applications International from $108.00 to $123.00 and gave the company a “neutral” rating in a report on Tuesday, September 1st. Stifel Nicolaus upped their target price on Science Applications International from $137.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. JPMorgan Chase & Co. upped their target price on Science Applications International from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Tuesday, June 2nd. Finally, Jefferies Financial Group increased their target price on Science Applications International from $130.00 to $140.00 and gave the stock a “hold” rating in a report on Tuesday, September 1st. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $125.22.

Science Applications International Stock Performance

Shares of SAIC opened at $133.19 on Friday. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 15.58 and a beta of 0.30. Science Applications International has a 12 month low of $81.08 and a 12 month high of $142.66. The firm has a fifty day simple moving average of $123.81 and a 200 day simple moving average of $108.74. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.71.

Science Applications International (NASDAQ:SAIC) last posted its quarterly earnings results on Monday, August 31st. The company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.70. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.76 billion. Science Applications International had a return on equity of 34.68% and a net margin of 5.13%.The business’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $3.63 earnings per share. Research analysts forecast that Science Applications International will post 10.78 EPS for the current fiscal year.

Science Applications International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 9th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, October 9th. Science Applications International’s dividend payout ratio (DPR) is currently 17.31%.

Institutional Trading of Science Applications International

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in Science Applications International in the fourth quarter valued at about $53,403,000. Bank of New York Mellon Corp acquired a new position in Science Applications International during the second quarter worth about $44,044,000. Dimensional Fund Advisors LP lifted its holdings in shares of Science Applications International by 13.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,535,288 shares of the company’s stock worth $145,730,000 after acquiring an additional 185,066 shares during the last quarter. River Road Asset Management LLC lifted its holdings in shares of Science Applications International by 44.4% in the fourth quarter. River Road Asset Management LLC now owns 479,677 shares of the company’s stock worth $48,284,000 after acquiring an additional 147,438 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Science Applications International by 13,176.6% in the 1st quarter. Fifth Third Bancorp now owns 63,064 shares of the company’s stock valued at $5,986,000 after purchasing an additional 62,589 shares in the last quarter. 76.00% of the stock is currently owned by institutional investors.

Science Applications International Company Profile

Science Applications International Corporation (SAIC) is a technology integrator and government services contractor that provides mission-critical solutions to the U.S. government. The company supports defense, intelligence, space, civilian, and federal law enforcement organizations with services designed to improve operational performance, modernize legacy systems, and address complex national security and public-sector challenges.

SAIC’s offerings include information technology modernization, cloud computing, cybersecurity, artificial intelligence and data analytics, digital engineering, software development, systems integration, and enterprise IT services.