Science Applications International Corporation (SAIC) Lowered to Buy at BidaskClub

Science Applications International Corporation (NYSE:SAIC) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Several other brokerages have also commented on SAIC. Cowen and Company reiterated a “hold” rating and set a $75.00 price objective on shares of Science Applications International Corporation in a research report on Friday, September 8th. Wells Fargo & Company upgraded Science Applications International Corporation from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Wednesday, October 25th. Jefferies Group LLC lowered Science Applications International Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Citigroup Inc upgraded Science Applications International Corporation from a “neutral” rating to a “buy” rating in a research report on Monday, October 23rd. Finally, Zacks Investment Research lowered Science Applications International Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Science Applications International Corporation has an average rating of “Hold” and a consensus price target of $81.25.

Science Applications International Corporation (NYSE SAIC) opened at $70.67 on Friday. The stock has a market cap of $3,099.05, a P/E ratio of 19.53, a PEG ratio of 4.04 and a beta of 1.62. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.41 and a quick ratio of 1.23.

Science Applications International Corporation (NYSE:SAIC) last announced its quarterly earnings data on Thursday, September 7th. The information technology services provider reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Science Applications International Corporation had a net margin of 3.77% and a return on equity of 48.69%. Science Applications International Corporation’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 earnings per share. equities analysts expect that Science Applications International Corporation will post 3.55 EPS for the current year.

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In other news, COO Nazzic S. Keene sold 18,772 shares of Science Applications International Corporation stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $68.85, for a total value of $1,292,452.20. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.94% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its position in shares of Science Applications International Corporation by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 96,379 shares of the information technology services provider’s stock worth $6,690,000 after buying an additional 1,928 shares during the last quarter. Royal Bank of Canada grew its position in shares of Science Applications International Corporation by 2.8% in the 2nd quarter. Royal Bank of Canada now owns 32,326 shares of the information technology services provider’s stock worth $2,243,000 after buying an additional 871 shares during the last quarter. State Street Corp grew its position in shares of Science Applications International Corporation by 4.8% in the 2nd quarter. State Street Corp now owns 1,503,586 shares of the information technology services provider’s stock worth $104,381,000 after buying an additional 69,187 shares during the last quarter. Comerica Bank grew its position in shares of Science Applications International Corporation by 0.3% in the 2nd quarter. Comerica Bank now owns 56,824 shares of the information technology services provider’s stock worth $3,958,000 after buying an additional 191 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in shares of Science Applications International Corporation by 80.7% in the 2nd quarter. Prudential Financial Inc. now owns 544,348 shares of the information technology services provider’s stock worth $37,788,000 after buying an additional 243,080 shares during the last quarter. Hedge funds and other institutional investors own 64.33% of the company’s stock.

About Science Applications International Corporation

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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