Science Applications International (NASDAQ:SAIC) Rating Lowered to Buy at Wall Street Zen

Key Points

• Wall Street Zen downgraded Science Applications International from “strong buy” to “buy,” while the broader analyst consensus remains “hold,” with an average price target of $125.22.
• SAIC reported quarterly earnings of $3.01 per share, beating estimates of $2.31, while revenue reached $1.88 billion and increased 6.3% year over year.
• Shares opened at $133.19, near their 12-month high of $142.66, and institutional investors own approximately 76% of the company.

Science Applications International (NASDAQ:SAIC - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other analysts have also issued reports on the stock. Jefferies Financial Group increased their price target on shares of Science Applications International from $130.00 to $140.00 and gave the stock a "hold" rating in a research report on Tuesday, September 1st. UBS Group upped their price objective on shares of Science Applications International from $108.00 to $123.00 and gave the company a "neutral" rating in a research note on Tuesday, September 1st. JPMorgan Chase & Co. increased their target price on shares of Science Applications International from $110.00 to $125.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group lifted their target price on shares of Science Applications International from $93.00 to $103.00 and gave the company a "sell" rating in a research note on Tuesday, September 8th. Finally, TD Cowen restated a "hold" rating on shares of Science Applications International in a report on Monday, August 31st. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $125.22.

Science Applications International Stock Performance

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

Science Applications International (NASDAQ:SAIC - Get Free Report) last posted its quarterly earnings results on Monday, August 31st. The company reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.70. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.76 billion. Science Applications International had a return on equity of 34.68% and a net margin of 5.13%.Science Applications International's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.63 earnings per share. On average, sell-side analysts anticipate that Science Applications International will post 10.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in 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 purchasing an additional 185,066 shares in the last quarter. Norges Bank bought a new position in Science Applications International during the fourth quarter valued at about $53,403,000. River Road Asset Management LLC lifted its position 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 buying an additional 147,438 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Science Applications International by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 431,455 shares of the company's stock worth $40,954,000 after buying an additional 6,179 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Science Applications International by 17.5% during the 1st quarter. Bank of America Corp DE now owns 380,538 shares of the company's stock worth $36,121,000 after acquiring an additional 56,720 shares in the last quarter. Institutional investors own 76.00% of the company's stock.

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.

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