SCIENCE APPLICATIONS INTERNATIONAL CORPORATION’s (SAIC) Market Perform Rating Reiterated at Wells Fargo & Co

SCIENCE APPLICATIONS INTERNATIONAL CORPORATION (NYSE:SAIC)‘s stock had its “market perform” rating reiterated by Wells Fargo & Co in a research report issued on Tuesday, June 13th. They currently have a $75.00 price objective on the information technology services provider’s stock, down from their prior price objective of $80.00. Wells Fargo & Co’s price target would suggest a potential upside of 5.22% from the company’s current price.

SAIC has been the subject of several other research reports. Zacks Investment Research raised SCIENCE APPLICATIONS INTERNATIONAL CORPORATION from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Thursday, June 1st. Seaport Global Securities initiated coverage on SCIENCE APPLICATIONS INTERNATIONAL CORPORATION in a research note on Thursday, February 16th. They issued a “buy” rating and a $93.00 price target for the company. Vertical Research initiated coverage on SCIENCE APPLICATIONS INTERNATIONAL CORPORATION in a research note on Thursday, March 16th. They issued a “hold” rating and a $91.00 price target for the company. Cowen and Company restated a “hold” rating and issued a $75.00 price target on shares of SCIENCE APPLICATIONS INTERNATIONAL CORPORATION in a research note on Friday, May 5th. Finally, Citigroup Inc. cut their price target on SCIENCE APPLICATIONS INTERNATIONAL CORPORATION from $86.00 to $83.00 and set a “neutral” rating for the company in a research note on Monday, April 3rd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $83.38.

Analyst Recommendations for SCIENCE APPLICATIONS INTERNATIONAL CORPORATION (NYSE:SAIC)

SCIENCE APPLICATIONS INTERNATIONAL CORPORATION (NYSE SAIC) traded down 0.358% during midday trading on Tuesday, reaching $71.025. The company had a trading volume of 138,059 shares. The stock has a market capitalization of $3.10 billion, a PE ratio of 19.779 and a beta of 1.64. SCIENCE APPLICATIONS INTERNATIONAL CORPORATION has a 12-month low of $54.66 and a 12-month high of $89.87. The company has a 50-day moving average of $74.62 and a 200-day moving average of $80.55.

SCIENCE APPLICATIONS INTERNATIONAL CORPORATION (NYSE:SAIC) last issued its quarterly earnings data on Monday, June 12th. The information technology services provider reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.04. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.12 billion. SCIENCE APPLICATIONS INTERNATIONAL CORPORATION had a return on equity of 47.08% and a net margin of 3.78%. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. On average, analysts predict that SCIENCE APPLICATIONS INTERNATIONAL CORPORATION will post $3.81 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, July 12th. This represents a $1.24 annualized dividend and a yield of 1.74%. SCIENCE APPLICATIONS INTERNATIONAL CORPORATION’s dividend payout ratio (DPR) is currently 34.54%.

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In related news, insider Nazzic S. Keene sold 8,580 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 34,826 shares in the company, valued at $2,523,143.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas Martin Wagoner sold 9,400 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $73.63, for a total value of $692,122.00. Following the completion of the transaction, the insider now owns 50,175 shares in the company, valued at $3,694,385.25. The disclosure for this sale can be found here. 2.28% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ronna Sue Cohen boosted its position in SCIENCE APPLICATIONS INTERNATIONAL CORPORATION by 0.4% in the first quarter. Ronna Sue Cohen now owns 5,753 shares of the information technology services provider’s stock worth $428,000 after buying an additional 21 shares in the last quarter. Sei Investments Co. boosted its position in SCIENCE APPLICATIONS INTERNATIONAL CORPORATION by 2.9% in the first quarter. Sei Investments Co. now owns 1,385 shares of the information technology services provider’s stock worth $103,000 after buying an additional 39 shares during the period. Envestnet Asset Management Inc. boosted its position in SCIENCE APPLICATIONS INTERNATIONAL CORPORATION by 2.5% in the first quarter. Envestnet Asset Management Inc. now owns 1,953 shares of the information technology services provider’s stock worth $143,000 after buying an additional 47 shares during the period. Dorsey Wright & Associates boosted its position in SCIENCE APPLICATIONS INTERNATIONAL CORPORATION by 2.2% in the first quarter. Dorsey Wright & Associates now owns 5,324 shares of the information technology services provider’s stock worth $396,000 after buying an additional 117 shares during the period. Finally, Tyers Asset Management LLC boosted its position in SCIENCE APPLICATIONS INTERNATIONAL CORPORATION by 11.8% in the first quarter. Tyers Asset Management LLC now owns 1,360 shares of the information technology services provider’s stock worth $101,000 after buying an additional 144 shares during the period. Hedge funds and other institutional investors own 69.89% of the company’s stock.

About SCIENCE APPLICATIONS INTERNATIONAL CORPORATION

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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