Truist Financial Forecasts Strong Price Appreciation for Science Applications International (NYSE:SAIC) Stock

Science Applications International (NYSE:SAIC - Free Report) had its price target raised by Truist Financial from $100.00 to $110.00 in a research note released on Thursday morning,Benzinga reports. They currently have a hold rating on the information technology services provider's stock.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus initiated coverage on Science Applications International in a report on Tuesday, June 24th. They issued a "buy" rating and a $130.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on Science Applications International from $148.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. UBS Group decreased their target price on Science Applications International from $121.00 to $111.00 and set a "neutral" rating for the company in a research report on Tuesday, June 3rd. Jefferies Financial Group upped their target price on Science Applications International from $120.00 to $130.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. Finally, Barclays reduced their price objective on Science Applications International from $115.00 to $105.00 and set an "equal weight" rating for the company in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $125.64.

Science Applications International Stock Performance

Shares of SAIC traded down $1.57 during midday trading on Thursday, hitting $113.24. 306,390 shares of the stock traded hands, compared to its average volume of 695,255. The firm has a market capitalization of $5.31 billion, a PE ratio of 19.10 and a beta of 0.49. The business's 50 day moving average price is $111.69 and its two-hundred day moving average price is $111.48. Science Applications International has a 1-year low of $94.68 and a 1-year high of $156.34. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87.

Science Applications International (NYSE:SAIC - Get Free Report) last posted 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%. During the same quarter last year, the company posted $1.92 earnings per share. Science Applications International's quarterly revenue was up 1.6% compared to the same quarter last year. Equities research analysts predict that Science Applications International will post 8.27 EPS for the current fiscal year.

Science Applications International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, July 11th. This represents a $1.48 annualized dividend and a yield of 1.31%. Science Applications International's dividend payout ratio is currently 20.76%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp increased its stake in shares of Science Applications International by 22.7% in the first quarter. Fifth Third Bancorp now owns 475 shares of the information technology services provider's stock valued at $53,000 after buying an additional 88 shares in the last quarter. US Bancorp DE increased its stake in shares of Science Applications International by 38.5% in the first quarter. US Bancorp DE now owns 324 shares of the information technology services provider's stock valued at $36,000 after buying an additional 90 shares in the last quarter. Focus Partners Wealth increased its stake in shares of Science Applications International by 3.3% in the first quarter. Focus Partners Wealth now owns 2,900 shares of the information technology services provider's stock valued at $326,000 after buying an additional 94 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Science Applications International by 43.2% in the first quarter. Larson Financial Group LLC now owns 325 shares of the information technology services provider's stock valued at $36,000 after buying an additional 98 shares in the last quarter. Finally, Mariner LLC boosted its holdings in Science Applications International by 2.8% in the fourth quarter. Mariner LLC now owns 3,875 shares of the information technology services provider's stock valued at $433,000 after acquiring an additional 106 shares during 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.