Wells Fargo & Co Raises Science Applications International (SAIC) Price Target to $77.00

Science Applications International (NYSE:SAIC) had its target price lifted by equities research analysts at Wells Fargo & Co from $70.00 to $77.00 in a note issued to investors on Friday, March 29th, BenzingaRatingsTable reports. The firm presently has a “market perform” rating on the information technology services provider’s stock. Wells Fargo & Co‘s price target indicates a potential upside of 5.47% from the stock’s previous close.

A number of other research analysts have also recently commented on SAIC. Zacks Investment Research raised shares of Science Applications International from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Drexel Hamilton set a $90.00 price target on shares of Science Applications International and gave the stock a “buy” rating in a research report on Friday, December 7th. ValuEngine raised shares of Science Applications International from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th. Finally, Citigroup began coverage on shares of Science Applications International in a research report on Tuesday, February 19th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $88.57.

NYSE SAIC traded up $0.59 during trading hours on Friday, reaching $73.01. The company had a trading volume of 620,459 shares, compared to its average volume of 563,995. Science Applications International has a 1-year low of $58.19 and a 1-year high of $93.31. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.60 and a quick ratio of 1.52. The stock has a market capitalization of $4.33 billion, a P/E ratio of 14.49, a PEG ratio of 2.64 and a beta of 1.56.

Science Applications International (NYSE:SAIC) last posted its earnings results on Thursday, March 28th. The information technology services provider reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.28. Science Applications International had a net margin of 2.94% and a return on equity of 32.34%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. Science Applications International’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, analysts anticipate that Science Applications International will post 5.02 EPS for the current year.

In related news, CEO Anthony J. Moraco sold 1,803 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $75.00, for a total value of $135,225.00. Following the sale, the chief executive officer now owns 59,151 shares of the company’s stock, valued at $4,436,325. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.05% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Royce & Associates LP purchased a new position in Science Applications International in the fourth quarter valued at approximately $36,000. Meeder Asset Management Inc. grew its position in shares of Science Applications International by 23.7% during the first quarter. Meeder Asset Management Inc. now owns 1,053 shares of the information technology services provider’s stock worth $81,000 after acquiring an additional 202 shares during the last quarter. Wilsey Asset Management Inc. purchased a new position in shares of Science Applications International during the fourth quarter worth approximately $144,000. NumerixS Investment Technologies Inc grew its position in shares of Science Applications International by 30.4% during the fourth quarter. NumerixS Investment Technologies Inc now owns 3,001 shares of the information technology services provider’s stock worth $188,000 after acquiring an additional 700 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Science Applications International during the third quarter worth approximately $243,000. 69.53% of the stock is currently owned by hedge funds and other institutional investors.

Science Applications International Company Profile

Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. Its offerings include engineering; technology and equipment platform integration; maintenance of ground and maritime systems; logistics; training and simulation; operation and program support services; and end-to-end services, such as design, development, integration, deployment, management and operations, sustainment, and security of its customers' IT infrastructure.

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Analyst Recommendations for Science Applications International (NYSE:SAIC)

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