Truist Financial Issues Pessimistic Forecast for Science Applications International (NYSE:SAIC) Stock Price

Science Applications International (NYSE:SAIC - Free Report) had its target price reduced by Truist Financial from $115.00 to $100.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a hold rating on the information technology services provider's stock.

SAIC has been the topic of several other reports. UBS Group cut their price objective on shares of Science Applications International from $121.00 to $111.00 and set a "neutral" rating on the stock in a report on Tuesday. Jefferies Financial Group lifted their price objective on shares of Science Applications International from $120.00 to $130.00 and gave the company a "hold" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. cut their price objective on shares of Science Applications International from $148.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Cantor Fitzgerald raised shares of Science Applications International to a "hold" rating in a report on Tuesday, February 25th. Finally, Wells Fargo & Company cut their price target on shares of Science Applications International from $148.00 to $132.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Science Applications International currently has an average rating of "Hold" and a consensus target price of $128.70.

Science Applications International Trading Up 2.8%

Shares of Science Applications International stock traded up $2.87 on Tuesday, hitting $105.32. 728,278 shares of the company traded hands, compared to its average volume of 533,079. The stock's 50 day moving average price is $116.34 and its 200-day moving average price is $112.87. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20. Science Applications International has a 52 week low of $94.68 and a 52 week high of $156.34. The company has a market cap of $5.03 billion, a PE ratio of 17.76 and a beta of 0.55.

Science Applications International (NYSE:SAIC - Get Free Report) last posted its quarterly earnings results on Monday, June 2nd. The information technology services provider reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.25). Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The firm's revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.92 EPS. Equities research analysts predict that Science Applications International will post 8.27 EPS for the current year.

Science Applications International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, July 11th. Science Applications International's dividend payout ratio (DPR) is presently 20.58%.

Insider Activity

In related news, CEO Toni Townes-Whitley acquired 2,000 shares of the company's stock in a transaction dated Friday, March 28th. The shares were purchased at an average cost of $111.67 per share, with a total value of $223,340.00. Following the completion of the acquisition, the chief executive officer now directly owns 45,183 shares of the company's stock, valued at $5,045,585.61. This represents a 4.63% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John K. Tien, Jr. acquired 215 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were bought at an average cost of $116.50 per share, for a total transaction of $25,047.50. Following the completion of the acquisition, the director now directly owns 919 shares of the company's stock, valued at approximately $107,063.50. The trade was a 30.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 3,260 shares of company stock valued at $365,037 over the last ninety days. 0.44% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SAIC. Norges Bank acquired a new position in Science Applications International during the fourth quarter valued at $63,572,000. AQR Capital Management LLC lifted its position in Science Applications International by 115.8% during the first quarter. AQR Capital Management LLC now owns 956,438 shares of the information technology services provider's stock valued at $107,379,000 after purchasing an additional 513,192 shares during the period. Invesco Ltd. lifted its position in Science Applications International by 124.8% during the first quarter. Invesco Ltd. now owns 874,595 shares of the information technology services provider's stock valued at $98,191,000 after purchasing an additional 485,496 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in Science Applications International by 27.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,186,547 shares of the information technology services provider's stock valued at $244,412,000 after purchasing an additional 464,989 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Science Applications International during the fourth quarter valued at $34,909,000. 76.00% of the stock is currently owned by institutional investors and hedge funds.

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.