Science Applications International Co. (NYSE:SAIC) Receives Average Recommendation of "Reduce" from Brokerages

Science Applications International Co. (NYSE:SAIC - Get Free Report) has received a consensus rating of "Reduce" from the five brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $127.60.

SAIC has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their target price on Science Applications International from $113.00 to $110.00 and set a "sell" rating on the stock in a research report on Thursday, February 29th. JPMorgan Chase & Co. decreased their price objective on Science Applications International from $142.00 to $140.00 and set a "neutral" rating on the stock in a report on Tuesday, March 19th. StockNews.com downgraded Science Applications International from a "buy" rating to a "hold" rating in a report on Tuesday, April 9th. Wells Fargo & Company lifted their price objective on Science Applications International from $141.00 to $143.00 and gave the company an "equal weight" rating in a report on Tuesday, March 19th. Finally, Truist Financial reiterated a "hold" rating and issued a $130.00 target price on shares of Science Applications International in a research note on Friday.

Science Applications International Stock Down 2.2 %

NYSE SAIC traded down $2.78 during trading on Friday, hitting $123.58. 225,740 shares of the company traded hands, compared to its average volume of 377,966. Science Applications International has a 12 month low of $95.43 and a 12 month high of $145.17. The business has a fifty day simple moving average of $133.65 and a 200 day simple moving average of $124.37. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $6.38 billion, a P/E ratio of 13.96 and a beta of 0.70.

Science Applications International (NYSE:SAIC - Get Free Report) last issued its quarterly earnings results on Monday, March 18th. The information technology services provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.01). Science Applications International had a net margin of 6.41% and a return on equity of 23.73%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the prior year, the business posted $2.04 earnings per share. The company's revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, sell-side analysts predict that Science Applications International will post 8.11 EPS for the current year.

Science Applications International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Thursday, April 11th. Science Applications International's dividend payout ratio (DPR) is 16.72%.

Insider Activity

In other news, Director Katharina G. Mcfarland sold 760 shares of the business's stock in a transaction on Friday, April 12th. The shares were sold at an average price of $125.64, for a total value of $95,486.40. Following the completion of the transaction, the director now owns 8,653 shares of the company's stock, valued at approximately $1,087,162.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Science Applications International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Science Applications International in the 4th quarter valued at about $75,040,000. Wellington Management Group LLP grew its position in shares of Science Applications International by 9.4% during the 1st quarter. Wellington Management Group LLP now owns 5,699,458 shares of the information technology services provider's stock worth $525,321,000 after purchasing an additional 491,167 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Science Applications International by 2,399.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 418,074 shares of the information technology services provider's stock worth $1,857,000 after purchasing an additional 401,348 shares in the last quarter. FMR LLC boosted its position in shares of Science Applications International by 13.2% during the 3rd quarter. FMR LLC now owns 2,823,285 shares of the information technology services provider's stock worth $297,969,000 after acquiring an additional 328,426 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Science Applications International by 14.8% during the 4th quarter. First Trust Advisors LP now owns 1,810,505 shares of the information technology services provider's stock worth $225,082,000 after acquiring an additional 233,075 shares in the last quarter. 76.00% of the stock is owned by institutional investors and hedge funds.

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.