Wells Fargo & Company Cuts Science Applications International (NYSE:SAIC) Price Target to $139.00

Science Applications International (NYSE:SAIC - Free Report) had its price target reduced by Wells Fargo & Company from $149.00 to $139.00 in a report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the information technology services provider's stock.

Several other research analysts have also issued reports on SAIC. The Goldman Sachs Group dropped their price target on shares of Science Applications International from $124.00 to $103.00 and set a "sell" rating for the company in a research report on Thursday, December 12th. JPMorgan Chase & Co. dropped their target price on Science Applications International from $170.00 to $148.00 and set an "overweight" rating for the company in a report on Friday, December 6th. TD Cowen lowered Science Applications International from a "buy" rating to a "hold" rating and decreased their price target for the company from $155.00 to $120.00 in a research note on Wednesday, January 8th. StockNews.com upgraded Science Applications International from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, December 18th. Finally, Cantor Fitzgerald upgraded shares of Science Applications International to a "hold" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Science Applications International presently has a consensus rating of "Hold" and an average target price of $136.11.

Remove Ads

Science Applications International Stock Performance

SAIC stock traded down $1.77 during midday trading on Wednesday, hitting $98.79. The stock had a trading volume of 925,698 shares, compared to its average volume of 633,895. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 16.66 and a beta of 0.66. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20. The stock has a 50-day simple moving average of $108.91 and a 200 day simple moving average of $124.69. Science Applications International has a 52 week low of $95.59 and a 52 week high of $156.34.

Science Applications International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 10th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, January 10th. Science Applications International's dividend payout ratio is currently 24.96%.

Insider Activity at Science Applications International

In other news, Director Katharina G. Mcfarland sold 3,239 shares of the company's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $117.70, for a total transaction of $381,230.30. Following the transaction, the director now owns 6,864 shares of the company's stock, valued at $807,892.80. This represents a 32.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Barbara Supplee purchased 425 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average cost of $116.36 per share, for a total transaction of $49,453.00. Following the purchase, the executive vice president now directly owns 3,579 shares of the company's stock, valued at $416,452.44. This trade represents a 13.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Science Applications International

Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC grew its position in shares of Science Applications International by 30,868.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,955 shares of the information technology services provider's stock worth $690,000 after buying an additional 4,939 shares during the period. Empowered Funds LLC lifted its stake in shares of Science Applications International by 18.7% in the 4th quarter. Empowered Funds LLC now owns 5,549 shares of the information technology services provider's stock valued at $620,000 after purchasing an additional 874 shares during the period. Seizert Capital Partners LLC lifted its stake in shares of Science Applications International by 36.3% in the 3rd quarter. Seizert Capital Partners LLC now owns 38,803 shares of the information technology services provider's stock valued at $5,404,000 after purchasing an additional 10,326 shares during the period. First Citizens Bank & Trust Co. acquired a new position in shares of Science Applications International during the 4th quarter worth about $312,000. Finally, Van ECK Associates Corp raised its position in shares of Science Applications International by 21.9% in the 3rd quarter. Van ECK Associates Corp now owns 250,589 shares of the information technology services provider's stock valued at $36,070,000 after acquiring an additional 44,990 shares during the period. Institutional investors and hedge funds 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.