Published On: Fri, Sep 9th, 2016

Science Applications International Corp. (SAIC) Downgraded by Cowen and Company

Science Applications International Corp. (NYSE:SAIC) was downgraded by investment analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a research report issued on Friday.
Other analysts have also issued reports about the company. Citigroup Inc. reissued a “buy” rating and set a $64.00 price objective (up from $60.00) on shares of Science Applications International Corp. in a report on Wednesday, June 8th. Drexel Hamilton reissued a “buy” rating and set a $63.00 price objective (up from $55.00) on shares of Science Applications International Corp. in a report on Thursday, June 16th. Jefferies Group boosted their price objective on Science Applications International Corp. from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, June 15th. SunTrust Banks Inc. reissued a “buy” rating on shares of Science Applications International Corp. in a report on Monday, June 13th. Finally, Zacks Investment Research raised Science Applications International Corp. from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Wednesday, July 6th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $65.00.
Science Applications International Corp. (NYSE:SAIC) opened at 69.65 on Friday. The firm’s 50-day moving average price is $62.26 and its 200-day moving average price is $55.23. Science Applications International Corp. has a 1-year low of $39.28 and a 1-year high of $72.50. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 27.99 and a beta of 1.56.

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Science Applications International Corp. (NYSE:SAIC) last issued its quarterly earnings data on Thursday, September 8th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. The company had revenue of $1.10 billion for the quarter. During the same period in the prior year, the company earned $0.66 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. Equities research analysts forecast that Science Applications International Corp. will post $3.27 EPS for the current fiscal year.
In related news, insider Douglas Martin Wagoner sold 4,300 shares of the company’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $58.00, for a total value of $249,400.00. Following the transaction, the insider now owns 30,805 shares in the company, valued at $1,786,690. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John Robert Hartley sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $56.94, for a total value of $740,220.00. Following the completion of the transaction, the chief financial officer now owns 46,595 shares in the company, valued at approximately $2,653,119.30. The disclosure for this sale can be found here. 2.28% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of SAIC. TimesSquare Capital Management LLC purchased a new position in Science Applications International Corp. during the first quarter valued at approximately $46,673,000. Norges Bank purchased a new position in Science Applications International Corp. during the fourth quarter valued at approximately $25,802,000. Teachers Advisors Inc. increased its position in Science Applications International Corp. by 345.4% in the first quarter. Teachers Advisors Inc. now owns 314,948 shares of the company’s stock valued at $16,799,000 after buying an additional 244,237 shares during the last quarter. Foundry Partners LLC purchased a new position in Science Applications International Corp. during the second quarter valued at approximately $6,910,000. Finally, Renaissance Technologies LLC purchased a new position in Science Applications International Corp. during the first quarter valued at approximately $3,419,000. Institutional investors and hedge funds own 64.15% of the company’s stock.
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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