Wells Fargo & Company Has Lowered Expectations for Science Applications International (NYSE:SAIC) Stock Price

Science Applications International (NYSE:SAIC) had its price objective cut by Wells Fargo & Company from $149.00 to $139.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

Several other brokerages have also recently issued reports on SAIC. StockNews.com upgraded shares of Science Applications International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group decreased their price objective on Science Applications International from $124.00 to $103.00 and set a “sell” rating for the company in a report on Thursday, December 12th. TD Cowen downgraded Science Applications International from a “buy” rating to a “hold” rating and cut their target price for the stock from $155.00 to $120.00 in a report on Wednesday, January 8th. UBS Group started coverage on Science Applications International in a research note on Monday, December 2nd. They issued a “neutral” rating and a $134.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price objective on Science Applications International from $170.00 to $148.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Science Applications International currently has a consensus rating of “Hold” and an average price target of $136.11.

Science Applications International Stock Performance

Shares of SAIC stock opened at $98.79 on Wednesday. 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 business’s 50-day moving average price is $108.91 and its 200-day moving average price is $124.69. Science Applications International has a 12 month low of $95.59 and a 12 month high of $156.34.

Science Applications International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 10th were issued a dividend of $0.37 per share. 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 payout ratio is 24.96%.

Insider Activity at Science Applications International

In other Science Applications International news, Director Katharina G. Mcfarland sold 3,239 shares of Science Applications International stock in a transaction on Monday, January 13th. The shares were sold at an average price of $117.70, for a total value of $381,230.30. Following the completion of the sale, the director now directly owns 6,864 shares of the company’s stock, valued at approximately $807,892.80. The trade was a 32.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Barbara Supplee acquired 425 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of $116.36 per share, for a total transaction of $49,453.00. Following the transaction, the executive vice president now directly owns 3,579 shares in the company, valued at approximately $416,452.44. This 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 owned by corporate insiders.

Institutional Investors Weigh In On Science Applications International

Several hedge funds and other institutional investors have recently modified their holdings of SAIC. Norges Bank acquired a new stake in Science Applications International in the 4th quarter valued at $63,572,000. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Science Applications International by 27.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,186,547 shares of the information technology services provider’s stock valued at $244,412,000 after buying an additional 464,989 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Science Applications International in the fourth quarter valued at $34,909,000. AQR Capital Management LLC grew its holdings in shares of Science Applications International by 68.4% during the fourth quarter. AQR Capital Management LLC now owns 443,246 shares of the information technology services provider’s stock valued at $49,413,000 after buying an additional 179,963 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Science Applications International during the fourth quarter worth about $18,694,000. Institutional investors own 76.00% of the company’s stock.

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.