Science Applications International (NYSE:SAIC) Upgraded to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Science Applications International (NYSE:SAIC) from an equal weight rating to an overweight rating in a research note published on Tuesday morning, MarketBeat Ratings reports. They currently have $147.00 price target on the information technology services provider’s stock, down from their previous price target of $157.00.

Several other research firms have also recently issued reports on SAIC. Citigroup raised their price target on Science Applications International from $160.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. upgraded shares of Science Applications International from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $150.00 to $170.00 in a research report on Wednesday, October 2nd. Truist Financial increased their price objective on shares of Science Applications International from $125.00 to $135.00 and gave the company a “hold” rating in a report on Friday, September 6th. Barclays raised 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 note on Monday, September 16th. Finally, StockNews.com cut shares of Science Applications International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.00.

Science Applications International Stock Performance

Science Applications International stock opened at $124.25 on Tuesday. The stock has a 50-day simple moving average of $139.60 and a 200 day simple moving average of $129.98. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of 22.35 and a beta of 0.70. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21. Science Applications International has a 12-month low of $112.00 and a 12-month high of $156.34.

Science Applications International (NYSE:SAIC) last posted its quarterly earnings data on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share 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 during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company posted $2.05 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, research analysts anticipate that Science Applications International will post 8.21 earnings per share for the current fiscal year.

Science Applications International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Friday, October 11th. Science Applications International’s payout ratio is 26.62%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. lifted its holdings in Science Applications International by 438.5% during the 3rd quarter. UMB Bank n.a. now owns 210 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 171 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of Science Applications International during the 2nd quarter worth about $27,000. GAMMA Investing LLC boosted its holdings in shares of Science Applications International by 236.0% during the 3rd quarter. GAMMA Investing LLC now owns 289 shares of the information technology services provider’s stock worth $40,000 after buying an additional 203 shares during the period. Fifth Third Bancorp grew its stake in Science Applications International by 30.4% in the 2nd quarter. Fifth Third Bancorp now owns 360 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 84 shares during the last quarter. Finally, CWM LLC raised its holdings in Science Applications International by 56.8% in the 2nd quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 147 shares during the period. 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.