JPMorgan Chase & Co. Lowers Science Applications International (NYSE:SAIC) Price Target to $132.00

Science Applications International (NYSE:SAIC) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $140.00 to $132.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 15.52% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Truist Financial reduced their price objective on shares of Science Applications International from $130.00 to $125.00 and set a “hold” rating on the stock in a research note on Tuesday, June 4th. Wells Fargo & Company raised their price objective on shares of Science Applications International from $141.00 to $143.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 19th. Finally, StockNews.com cut shares of Science Applications International from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, Science Applications International currently has an average rating of “Hold” and a consensus price target of $125.00.

Science Applications International Stock Up 0.8 %

Shares of Science Applications International stock traded up $0.87 during midday trading on Wednesday, reaching $114.27. 45,598 shares of the company’s stock traded hands, compared to its average volume of 307,476. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 13.38 and a beta of 0.69. The company’s 50 day simple moving average is $124.78 and its 200 day simple moving average is $128.56. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.95 and a current ratio of 0.95. Science Applications International has a 52 week low of $104.26 and a 52 week high of $145.17.

Science Applications International (NYSE:SAIC) last posted its earnings results on Monday, June 3rd. The information technology services provider reported $1.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.92. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.84 billion. Science Applications International had a net margin of 6.28% and a return on equity of 22.56%. Science Applications International’s revenue was down 8.8% compared to the same quarter last year. During the same period last year, the business posted $2.14 EPS. Equities analysts expect that Science Applications International will post 8.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Toni Townes-Whitley acquired 3,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was bought at an average price of $125.96 per share, with a total value of $377,880.00. Following the transaction, the chief executive officer now directly owns 46,795 shares in the company, valued at approximately $5,894,298.20. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Vincent P. Difronzo bought 215 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was bought at an average cost of $116.72 per share, for a total transaction of $25,094.80. Following the transaction, the executive vice president now owns 2,267 shares of the company’s stock, valued at $264,604.24. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Toni Townes-Whitley bought 3,000 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was purchased at an average price of $125.96 per share, with a total value of $377,880.00. Following the completion of the transaction, the chief executive officer now directly owns 46,795 shares in the company, valued at approximately $5,894,298.20. The disclosure for this purchase can be found here. Insiders bought a total of 6,110 shares of company stock valued at $744,577 in the last quarter. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Science Applications International

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new position in Science Applications International during the 4th quarter worth approximately $25,000. CVA Family Office LLC acquired a new position in Science Applications International during the 4th quarter worth approximately $26,000. Parallel Advisors LLC increased its position in Science Applications International by 62.9% during the 4th quarter. Parallel Advisors LLC now owns 259 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. CWM LLC increased its position in Science Applications International by 56.8% during the 2nd quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 147 shares in the last quarter. Finally, FinTrust Capital Advisors LLC increased its position in Science Applications International by 150.3% during the 1st quarter. FinTrust Capital Advisors LLC now owns 473 shares of the information technology services provider’s stock worth $62,000 after purchasing an additional 284 shares in the last quarter. 76.00% of the stock is currently owned by institutional investors and hedge funds.

Science Applications International Company Profile

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.