Truist Financial Cuts Science Applications International (NYSE:SAIC) Price Target to $100.00

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

Several other research analysts have also recently weighed in on the stock. UBS Group reduced their price target on shares of Science Applications International from $121.00 to $111.00 and set a "neutral" rating for the company in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Science Applications International from $148.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Cantor Fitzgerald upgraded shares of Science Applications International to a "hold" rating in a report on Tuesday, February 25th. Jefferies Financial Group upped their price target 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. Finally, Wells Fargo & Company reduced their price target on shares of Science Applications International from $148.00 to $132.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $128.70.

Science Applications International Trading Down 1.1%

Science Applications International stock traded down $1.16 during midday trading on Tuesday, hitting $102.27. 663,296 shares of the stock were exchanged, compared to its average volume of 530,416. The company has a fifty day simple moving average of $116.90 and a two-hundred day simple moving average of $113.16. Science Applications International has a 52 week low of $94.68 and a 52 week high of $156.34. The stock has a market capitalization of $4.88 billion, a PE ratio of 17.25 and a beta of 0.55. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20.

Science Applications International (NYSE:SAIC - Get Free Report) last released its quarterly earnings data 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 return on equity of 24.18% and a net margin of 4.11%. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.92 EPS. Equities research analysts anticipate that Science Applications International will post 8.27 EPS for the current fiscal year.

Science Applications International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, July 11th. Science Applications International's dividend payout ratio (DPR) is currently 20.58%.

Insiders Place Their Bets

In other news, CEO Toni Townes-Whitley purchased 2,000 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now owns 45,183 shares of the company's stock, valued at $5,045,585.61. The trade was a 4.63% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Milford W. Mcguirt acquired 500 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was bought at an average cost of $110.58 per share, for a total transaction of $55,290.00. Following the completion of the transaction, the director now directly owns 6,841 shares of the company's stock, valued at approximately $756,477.78. This trade represents a 7.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 3,260 shares of company stock valued at $365,037. 0.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Science Applications International

Several institutional investors and hedge funds have recently modified their holdings of SAIC. Fuller & Thaler Asset Management Inc. grew its stake in Science Applications International by 14.3% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,500,086 shares of the information technology services provider's stock worth $280,685,000 after buying an additional 313,539 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Science Applications International by 0.3% in the 4th quarter. First Trust Advisors LP now owns 1,218,137 shares of the information technology services provider's stock valued at $136,163,000 after purchasing an additional 3,078 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Science Applications International by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,141,923 shares of the information technology services provider's stock valued at $128,202,000 after purchasing an additional 30,343 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Science Applications International by 115.8% in the 1st 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 in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Science Applications International by 124.8% in the 1st 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 in the last quarter. 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.