Science Applications International Corporation (NYSE:SAIC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

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. “

A number of other equities research analysts also recently weighed in on SAIC. Cowen and Company decreased their price objective on Science Applications International Corporation from $82.00 to $75.00 and set a “market perform” rating on the stock in a report on Wednesday, April 19th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $75.00 price objective (down from $80.00) on shares of Science Applications International Corporation in a report on Tuesday, June 13th. ValuEngine downgraded Science Applications International Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Jefferies Group LLC reaffirmed a “hold” rating and set a $66.00 price objective on shares of Science Applications International Corporation in a report on Friday, July 14th. Finally, BidaskClub downgraded Science Applications International Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $81.63.

Shares of Science Applications International Corporation (NYSE:SAIC) opened at 70.62 on Wednesday. The company has a 50 day moving average price of $70.64 and a 200 day moving average price of $76.68. Science Applications International Corporation has a one year low of $60.34 and a one year high of $89.87. The company has a market cap of $3.08 billion, a P/E ratio of 19.67 and a beta of 1.65.

Science Applications International Corporation (NYSE:SAIC) last released its quarterly earnings data on Monday, June 12th. The information technology services provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. Science Applications International Corporation had a return on equity of 47.08% and a net margin of 3.78%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 earnings per share. Equities research analysts expect that Science Applications International Corporation will post $3.79 earnings per share for the current year.

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In other news, insider Douglas Martin Wagoner sold 30,072 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $68.95, for a total value of $2,073,464.40. Following the transaction, the insider now directly owns 8,859 shares of the company’s stock, valued at approximately $610,828.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 44,472 shares of company stock worth $3,119,732 over the last three months. 2.28% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SAIC. Tyers Asset Management LLC boosted its position in Science Applications International Corporation by 11.8% in the first quarter. Tyers Asset Management LLC now owns 1,360 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 144 shares during the period. Sei Investments Co. boosted its position in Science Applications International Corporation by 2.9% in the first quarter. Sei Investments Co. now owns 1,385 shares of the information technology services provider’s stock valued at $103,000 after buying an additional 39 shares during the period. Harbour Capital Advisors LLC bought a new position in Science Applications International Corporation during the first quarter valued at $132,000. Bank of Montreal Can boosted its position in Science Applications International Corporation by 128.3% in the second quarter. Bank of Montreal Can now owns 1,906 shares of the information technology services provider’s stock valued at $132,000 after buying an additional 1,071 shares during the period. Finally, Elkfork Partners LLC boosted its position in Science Applications International Corporation by 11.8% in the first quarter. Elkfork Partners LLC now owns 1,870 shares of the information technology services provider’s stock valued at $139,000 after buying an additional 198 shares during the period. Hedge funds and other institutional investors own 66.00% of the company’s stock.

Science Applications International Corporation Company Profile

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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