Science Applications International (NYSE:SAIC) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Science Applications International (NYSE:SAIC - Get Free Report) had its price target increased by investment analysts at Wells Fargo & Company from $132.00 to $137.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the information technology services provider's stock. Wells Fargo & Company's target price would indicate a potential upside of 30.08% from the company's current price.

A number of other analysts have also weighed in on the stock. 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 research note on Tuesday, April 15th. Truist Financial reduced their price objective on Science Applications International from $115.00 to $100.00 and set a "hold" rating for the company in a research note on Tuesday. Jefferies Financial Group boosted their price objective on Science Applications International from $120.00 to $130.00 and gave the company a "hold" rating in a report on Thursday, May 15th. UBS Group dropped their target price on Science Applications International from $121.00 to $111.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, Cantor Fitzgerald raised Science Applications International to a "hold" rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $128.70.

Science Applications International Stock Performance

Shares of NYSE SAIC traded up $2.87 during midday trading on Wednesday, reaching $105.32. The company had a trading volume of 728,278 shares, compared to its average volume of 534,034. Science Applications International has a 1 year low of $94.68 and a 1 year high of $156.34. The business's 50-day simple moving average is $116.34 and its 200 day simple moving average 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. The stock has a market cap of $5.03 billion, a P/E ratio of 17.76 and a beta of 0.55.

Science Applications International (NYSE:SAIC - Get Free Report) last issued its earnings results on Monday, June 2nd. The information technology services provider reported $1.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.92 earnings per share. On average, analysts forecast that Science Applications International will post 8.27 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Milford W. Mcguirt acquired 500 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were bought at an average price of $110.58 per share, for a total transaction of $55,290.00. Following the acquisition, the director now owns 6,841 shares of the company's stock, valued at approximately $756,477.78. This trade represents a 7.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Carolyn B. Handlon purchased 230 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average price of $109.93 per share, for a total transaction of $25,283.90. Following the completion of the transaction, the director now directly owns 4,032 shares of the company's stock, valued at $443,237.76. The trade was a 6.05% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,260 shares of company stock worth $365,037 over the last 90 days. 0.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Science Applications International

A number of large investors have recently made changes to their positions in SAIC. Cornerstone Planning Group LLC acquired a new stake in shares of Science Applications International in the 4th quarter worth $28,000. Parallel Advisors LLC raised its stake in Science Applications International by 112.1% during the first quarter. Parallel Advisors LLC now owns 280 shares of the information technology services provider's stock worth $31,000 after purchasing an additional 148 shares during the period. Larson Financial Group LLC boosted its holdings in Science Applications International by 43.2% in the 1st quarter. Larson Financial Group LLC now owns 325 shares of the information technology services provider's stock valued at $36,000 after purchasing an additional 98 shares during the last quarter. US Bancorp DE grew its stake in shares of Science Applications International by 38.5% in the 1st 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 during the period. Finally, True Wealth Design LLC acquired a new stake in shares of Science Applications International during the 4th quarter worth approximately $48,000. 76.00% of the stock is currently owned by hedge funds and other institutional investors.

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.