Science Applications International Corp (SAIC) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Science Applications International Corp (NYSE:SAIC) from a strong-buy rating to a hold rating in a research report released on Wednesday.

According to Zacks, “Science Applications International Corp. is engaged in transaction, technical, engineering and enterprise IT services business. The Company provides services in two segments: government segment and commercial segment. Its government segment servers primarily to United States federal, state and local government agencies and foreign governments. The commercial segment provides technology-driven consulting and systems integration services and solutions. Science Applications International Corp. is headquartered in McLean, VA. “

Several other research analysts have also recently issued reports on the company. Citigroup Inc cut their price objective on Science Applications International Corp from $86.00 to $83.00 and set a neutral rating for the company in a research report on Monday, April 3rd. Cowen and Company reiterated a market perform rating and issued a $82.00 price objective (down previously from $90.00) on shares of Science Applications International Corp in a research report on Sunday, April 2nd. Vertical Research assumed coverage on Science Applications International Corp in a research report on Thursday, March 16th. They issued a hold rating and a $91.00 price objective for the company. Finally, Seaport Global Securities assumed coverage on Science Applications International Corp in a research report on Thursday, February 16th. They issued a buy rating and a $93.00 price objective for the company. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $86.14.



Shares of Science Applications International Corp (NYSE:SAIC) opened at 74.22 on Wednesday. The company has a 50-day moving average of $79.92 and a 200 day moving average of $80.26. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 23.05 and a beta of 1.60. Science Applications International Corp has a one year low of $51.26 and a one year high of $89.87.

Science Applications International Corp (NYSE:SAIC) last released its quarterly earnings data on Thursday, March 30th. The information technology services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The firm earned $1.03 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Science Applications International Corp had a return on equity of 41.65% and a net margin of 3.11%. Science Applications International Corp’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 earnings per share. Equities research analysts forecast that Science Applications International Corp will post $3.91 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Tuesday, April 11th. Science Applications International Corp’s dividend payout ratio is currently 40.92%.

In other news, insider Nazzic S. Keene sold 8,580 shares of the firm’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $72.45, for a total value of $621,621.00. Following the completion of the transaction, the insider now owns 34,826 shares in the company, valued at $2,523,143.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.28% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Profund Advisors LLC raised its stake in Science Applications International Corp by 2.4% in the first quarter. Profund Advisors LLC now owns 7,937 shares of the information technology services provider’s stock worth $591,000 after buying an additional 189 shares during the last quarter. Nationwide Fund Advisors raised its stake in Science Applications International Corp by 25.2% in the first quarter. Nationwide Fund Advisors now owns 242,548 shares of the information technology services provider’s stock worth $18,046,000 after buying an additional 48,766 shares during the last quarter. Boston Advisors LLC raised its stake in Science Applications International Corp by 19.3% in the first quarter. Boston Advisors LLC now owns 242,875 shares of the information technology services provider’s stock worth $18,070,000 after buying an additional 39,327 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Science Applications International Corp during the first quarter worth approximately $298,000. Finally, AMI Asset Management Corp raised its stake in Science Applications International Corp by 69.3% in the first quarter. AMI Asset Management Corp now owns 91,704 shares of the information technology services provider’s stock worth $6,823,000 after buying an additional 37,545 shares during the last quarter. 66.48% of the stock is currently owned by institutional investors and hedge funds.

Science Applications International Corp Company Profile

Science Applications International Corporation (SAIC) is a provider of technical, engineering and enterprise information technology (IT) services. The Company provides its services primarily to the United States Government, including the Department of Defense (DoD), the intelligence community and federal civilian agencies.

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