Science Applications International (NYSE:SAIC) Price Target Raised to $137.00

Science Applications International (NYSE:SAIC - Get Free Report) had its price objective upped by equities research analysts at Wells Fargo & Company from $132.00 to $137.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the information technology services provider's stock. Wells Fargo & Company's target price suggests a potential upside of 33.72% from the stock's previous close.

A number of other brokerages have also recently issued reports on SAIC. JPMorgan Chase & Co. cut their target price on shares of Science Applications International from $148.00 to $140.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Jefferies Financial Group boosted their price objective on shares of Science Applications International from $120.00 to $130.00 and gave the company a "hold" rating in a research report on Thursday, May 15th. Cantor Fitzgerald raised shares of Science Applications International to a "hold" rating in a research report on Tuesday, February 25th. UBS Group cut their price objective on shares of Science Applications International from $121.00 to $111.00 and set a "neutral" rating for the company in a research report on Tuesday. Finally, Truist Financial cut their price objective on shares of Science Applications International from $115.00 to $100.00 and set a "hold" rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $128.70.

Science Applications International Price Performance

NYSE SAIC traded up $0.18 during trading hours on Wednesday, reaching $102.45. The company's stock had a trading volume of 695,328 shares, compared to its average volume of 531,678. The stock has a market cap of $4.89 billion, a PE ratio of 17.28 and a beta of 0.55. Science Applications International has a fifty-two week low of $94.68 and a fifty-two week high of $156.34. The company's 50-day moving average is $116.70 and its two-hundred day moving average is $113.09. 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 announced 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%. Science Applications International's revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.92 EPS. Analysts forecast that Science Applications International will post 8.27 EPS for the current year.

Insider Buying and Selling

In other news, Director Carolyn B. Handlon bought 230 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was acquired at an average cost of $109.93 per share, for a total transaction of $25,283.90. Following the completion of the purchase, the director now owns 4,032 shares of the company's stock, valued at $443,237.76. This trade represents a 6.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Milford W. Mcguirt bought 500 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was purchased at an average price of $110.58 per share, with a total value of $55,290.00. Following the completion of the purchase, 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 position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 3,260 shares of company stock valued at $365,037. Insiders own 0.44% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in Science Applications International by 18.7% during the 4th quarter. Empowered Funds LLC now owns 5,549 shares of the information technology services provider's stock valued at $620,000 after acquiring an additional 874 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Science Applications International by 6.4% in the 4th quarter. Truist Financial Corp now owns 3,850 shares of the information technology services provider's stock worth $430,000 after acquiring an additional 233 shares during the period. KLP Kapitalforvaltning AS bought a new position in Science Applications International in the 4th quarter valued at about $1,414,000. Savant Capital LLC grew its position in Science Applications International by 308.0% in the 4th quarter. Savant Capital LLC now owns 9,457 shares of the information technology services provider's stock valued at $1,057,000 after buying an additional 7,139 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Science Applications International by 30.4% during the 4th quarter. Van ECK Associates Corp now owns 326,793 shares of the information technology services provider's stock valued at $36,529,000 after purchasing an additional 76,204 shares in the last quarter. 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.