Science Applications International (NYSE:SAIC) Price Target Cut to $140.00 by Analysts at JPMorgan Chase & Co.

Science Applications International (NYSE:SAIC) had its price target decreased by JPMorgan Chase & Co. from $148.00 to $140.00 in a research report sent to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the information technology services provider’s stock.

Other equities analysts have also recently issued reports about the company. Truist Financial decreased their target price on Science Applications International from $135.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. TD Cowen cut Science Applications International from a “buy” rating to a “hold” rating and lowered their price objective for the company from $155.00 to $120.00 in a research report on Wednesday, January 8th. Cantor Fitzgerald raised shares of Science Applications International to a “hold” rating in a report on Tuesday, February 25th. StockNews.com raised shares of Science Applications International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company reduced their price objective on shares of Science Applications International from $148.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Science Applications International currently has an average rating of “Hold” and a consensus price target of $131.33.

Science Applications International Stock Down 0.3 %

SAIC stock opened at $117.18 on Tuesday. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 19.76 and a beta of 0.58. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.87 and a current ratio of 0.87. The business’s 50-day moving average is $107.17 and its two-hundred day moving average is $119.53. Science Applications International has a fifty-two week low of $94.68 and a fifty-two week high of $156.34.

Science Applications International (NYSE:SAIC) last issued its quarterly earnings data on Monday, March 17th. The information technology services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.57. Science Applications International had a net margin of 4.11% and a return on equity of 24.18%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the business earned $1.43 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts forecast that Science Applications International will post 8.27 earnings per share for the current year.

Science Applications International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, April 11th. Science Applications International’s payout ratio is currently 20.58%.

Insider Activity

In other Science Applications International news, Director Milford W. Mcguirt purchased 500 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were bought 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 in the company, valued at $756,477.78. This trade represents a 7.89 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Toni Townes-Whitley acquired 2,000 shares of the company’s stock in a transaction on Friday, March 28th. The stock was acquired at an average cost of $111.67 per share, with a total value of $223,340.00. Following the completion of the purchase, the chief executive officer now directly owns 45,183 shares in the company, valued at approximately $5,045,585.61. This represents a 4.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 3,260 shares of company stock worth $365,037 over the last 90 days. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SAIC. Cornerstone Planning Group LLC purchased a new stake in Science Applications International during the fourth quarter valued at approximately $28,000. Parallel Advisors LLC raised its holdings in Science Applications International by 112.1% during the 1st quarter. Parallel Advisors LLC now owns 280 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 148 shares during the period. True Wealth Design LLC bought a new stake in Science Applications International in the fourth quarter worth $48,000. Fifth Third Bancorp lifted its position in 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 worth $53,000 after buying an additional 88 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in Science Applications International during the fourth quarter worth $58,000. 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.