Citigroup Raises Science Applications International (NYSE:SAIC) Price Target to $160.00

Science Applications International (NYSE:SAIC) had its price objective increased by Citigroup from $155.00 to $160.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

Several other equities analysts also recently weighed in on the stock. Truist Financial increased their price target on shares of Science Applications International from $125.00 to $135.00 and gave the stock a hold rating in a report on Friday. StockNews.com cut shares of Science Applications International from a buy rating to a hold rating in a report on Tuesday, June 4th. JPMorgan Chase & Co. decreased their target price on shares of Science Applications International from $140.00 to $132.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Finally, TD Cowen increased their price target on Science Applications International from $145.00 to $155.00 and gave the stock a buy rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $138.29.

Science Applications International Stock Down 1.6 %

SAIC stock opened at $133.15 on Friday. The stock has a market capitalization of $6.82 billion, a PE ratio of 15.59 and a beta of 0.70. Science Applications International has a 52 week low of $104.26 and a 52 week high of $145.17. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.13. The firm has a 50 day moving average of $123.03 and a 200 day moving average of $127.35.

Science Applications International (NYSE:SAIC) last released its earnings results on Thursday, September 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.19. Science Applications International had a return on equity of 22.56% and a net margin of 6.28%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the firm earned $2.05 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. Sell-side analysts forecast that Science Applications International will post 8.06 earnings per share for the current year.

Science Applications International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, October 11th. Science Applications International’s payout ratio is currently 17.33%.

Insider Activity

In other Science Applications International news, EVP Michelle A. O’hara purchased 1,000 shares of Science Applications International stock in a transaction that occurred on Friday, July 12th. The stock was bought at an average price of $118.00 per share, with a total value of $118,000.00. Following the acquisition, the executive vice president now owns 33,497 shares of the company’s stock, valued at approximately $3,952,646. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP James Joshua Jackson purchased 400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were purchased at an average cost of $114.28 per share, with a total value of $45,712.00. Following the purchase, the executive vice president now owns 13,677 shares of the company’s stock, valued at approximately $1,563,007.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michelle A. O’hara bought 1,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was purchased at an average price of $118.00 per share, for a total transaction of $118,000.00. Following the transaction, the executive vice president now owns 33,497 shares of the company’s stock, valued at $3,952,646. The disclosure for this purchase can be found here. Insiders have acquired 3,715 shares of company stock worth $430,207 in the last ninety days. Company insiders own 0.67% of the company’s stock.

Institutional Trading of Science Applications International

Several large investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Science Applications International during the 4th quarter worth approximately $75,040,000. First Trust Advisors LP boosted its stake in Science Applications International by 14.8% during the fourth quarter. First Trust Advisors LP now owns 1,810,505 shares of the information technology services provider’s stock worth $225,082,000 after buying an additional 233,075 shares during the last quarter. Wellington Management Group LLP grew its holdings in Science Applications International by 5.0% in the 4th quarter. Wellington Management Group LLP now owns 4,062,059 shares of the information technology services provider’s stock valued at $504,995,000 after buying an additional 194,160 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Science Applications International by 122.7% in the 2nd quarter. Van ECK Associates Corp now owns 205,599 shares of the information technology services provider’s stock worth $24,168,000 after acquiring an additional 113,260 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new position in shares of Science Applications International during the 1st quarter worth $11,044,000. Hedge funds and other institutional investors own 76.00% of the company’s stock.

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.