Science Applications International (SAIC) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Science Applications International (NYSE:SAIC) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
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 research analysts also recently weighed in on SAIC. Cowen reiterated a hold rating and set a $72.00 target price on shares of Science Applications International in a report on Friday, December 8th. BidaskClub upgraded Science Applications International from a hold rating to a buy rating in a report on Thursday, September 28th. Vertical Research upgraded Science Applications International from a hold rating to a buy rating and set a $83.00 target price on the stock in a report on Friday, December 8th. SunTrust Banks reiterated a buy rating and set a $93.00 target price on shares of Science Applications International in a report on Friday, October 6th. Finally, Wells Fargo & Company upgraded Science Applications International from a market perform rating to an outperform rating and set a $80.00 target price on the stock in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $80.88.
Science Applications International (SAIC) opened at $77.63 on Wednesday. Science Applications International has a twelve month low of $60.21 and a twelve month high of $89.87. The company has a current ratio of 1.34, a quick ratio of 1.15 and a debt-to-equity ratio of 3.09. The firm has a market capitalization of $3,316.93, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 4.26 and a beta of 1.60.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be given a $0.31 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.60%. Science Applications International’s dividend payout ratio is currently 34.07%.
In other news, COO Nazzic S. Keene sold 18,772 shares of the business’s 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 legal filing with the SEC, which can be accessed through this link. Insiders own 2.94% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of SAIC. Koch Industries Inc. bought a new stake in shares of Science Applications International in the 2nd quarter worth approximately $600,000. ETF Managers Group LLC bought a new stake in shares of Science Applications International in the 2nd quarter worth approximately $39,049,000. Vanguard Group Inc. boosted its position in shares of Science Applications International by 5.2% in the 2nd quarter. Vanguard Group Inc. now owns 5,096,976 shares of the information technology services provider’s stock worth $353,833,000 after purchasing an additional 250,102 shares in the last quarter. Prudential Financial Inc. lifted its position in Science Applications International by 80.7% in the 2nd quarter. Prudential Financial Inc. now owns 544,348 shares of the information technology services provider’s stock valued at $37,788,000 after acquiring an additional 243,080 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in Science Applications International by 54.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 435,994 shares of the information technology services provider’s stock valued at $29,147,000 after acquiring an additional 154,429 shares in the last quarter. 63.47% of the stock is currently owned by hedge funds and other institutional investors.
About Science Applications International
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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