Science Applications International Corp. (SAIC) Upgraded to “Buy” at Zacks Investment Research

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Science Applications International Corp. (NYSE:SAIC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $76.00 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 11.05% from the stock’s previous close.
According to Zacks, “Science Applications International Corp. is engaged in transaction, technical, engineering and enterprise IT services business. The Company provides services in two segments: government segment and commercial segment. Its government segment servers primarily to United States federal, state and local government agencies and foreign governments. The commercial segment provides technology-driven consulting and systems integration services and solutions. Science Applications International Corp. is headquartered in McLean, VA. “
Other research analysts have also issued reports about the company. SunTrust Banks Inc. reissued a “buy” rating on shares of Science Applications International Corp. in a research report on Monday, June 13th. Drexel Hamilton restated a “buy” rating and issued a $63.00 target price (up previously from $55.00) on shares of Science Applications International Corp. in a research note on Thursday, June 16th. Jefferies Group restated a “buy” rating on shares of Science Applications International Corp. in a research note on Wednesday, August 10th. Citigroup Inc. boosted their target price on Science Applications International Corp. from $64.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, June 14th. Finally, BB&T Corp. downgraded Science Applications International Corp. from a “buy” rating to a “hold” rating in a research note on Monday, June 13th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Science Applications International Corp. currently has a consensus rating of “Buy” and an average target price of $71.17.

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Science Applications International Corp. (NYSE:SAIC) traded up 1.17% during midday trading on Wednesday, reaching $68.44. The company’s stock had a trading volume of 316,834 shares. Science Applications International Corp. has a 52 week low of $39.28 and a 52 week high of $72.50. The firm has a market capitalization of $3.03 billion, a PE ratio of 24.11 and a beta of 1.56. The stock has a 50 day moving average of $63.86 and a 200 day moving average of $56.75.
Science Applications International Corp. (NYSE:SAIC) last posted its quarterly earnings results on Thursday, September 8th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.06. The firm had revenue of $1.10 billion for the quarter. Science Applications International Corp. had a return on equity of 38.81% and a net margin of 2.92%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. On average, equities research analysts predict that Science Applications International Corp. will post $3.30 earnings per share for the current fiscal year.
In related news, insider Douglas Martin Wagoner sold 4,300 shares of the business’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $58.00, for a total transaction of $249,400.00. Following the completion of the transaction, the insider now owns 30,805 shares of the company’s stock, valued at approximately $1,786,690. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Moraco sold 38,821 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $66.58, for a total value of $2,584,702.18. Following the transaction, the chief executive officer now directly owns 204,879 shares of the company’s stock, valued at approximately $13,640,843.82. The disclosure for this sale can be found here. Insiders own 2.28% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. State Street Corp boosted its position in Science Applications International Corp. by 0.7% in the first quarter. State Street Corp now owns 1,446,148 shares of the company’s stock valued at $77,135,000 after buying an additional 10,345 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Science Applications International Corp. by 15.7% in the first quarter. Goldman Sachs Group Inc. now owns 167,065 shares of the company’s stock valued at $8,912,000 after buying an additional 22,716 shares in the last quarter. BlackRock Group LTD boosted its position in Science Applications International Corp. by 3.6% in the first quarter. BlackRock Group LTD now owns 43,546 shares of the company’s stock valued at $2,323,000 after buying an additional 1,533 shares in the last quarter. First Trust Advisors LP boosted its position in Science Applications International Corp. by 37.4% in the second quarter. First Trust Advisors LP now owns 90,131 shares of the company’s stock valued at $5,259,000 after buying an additional 24,515 shares in the last quarter. Finally, HBK Investments L P boosted its position in Science Applications International Corp. by 15.0% in the first quarter. HBK Investments L P now owns 16,600 shares of the company’s stock valued at $885,000 after buying an additional 2,162 shares in the last quarter. 63.49% of the stock is owned by institutional investors and hedge funds.
About Science Applications International Corp.
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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