Science Applications International Corporation (SAIC) Earns Hold Rating from Cowen and Company

Cowen and Company reissued their hold rating on shares of Science Applications International Corporation (NYSE:SAIC) in a report released on Friday morning. Cowen and Company currently has a $75.00 target price on the information technology services provider’s stock.

“Q2’s ops miss, SAIC’s third in a row, coupled with near term margin pressure suggest.”,” the firm’s analyst commented.

Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Science Applications International Corporation from a hold rating to a buy rating and set a $85.00 price objective for the company in a research report on Thursday, June 1st. ValuEngine cut shares of Science Applications International Corporation from a buy rating to a hold rating in a research report on Tuesday, June 13th. Wells Fargo & Company reiterated a market perform rating and set a $75.00 price objective (down from $80.00) on shares of Science Applications International Corporation in a research report on Tuesday, June 13th. Jefferies Group LLC reiterated a hold rating and set a $66.00 price objective on shares of Science Applications International Corporation in a research report on Friday, July 14th. Finally, BidaskClub cut shares of Science Applications International Corporation from a buy rating to a hold rating in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $80.00.

Science Applications International Corporation (SAIC) opened at 61.06 on Friday. The firm has a 50-day moving average of $71.09 and a 200-day moving average of $75.32. The company has a market capitalization of $2.67 billion, a PE ratio of 17.00 and a beta of 1.64. Science Applications International Corporation has a 52 week low of $60.81 and a 52 week high of $89.87.

Science Applications International Corporation (NYSE:SAIC) last announced its quarterly earnings results on Thursday, September 7th. The information technology services provider reported $0.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by $0.02. Science Applications International Corporation had a net margin of 3.77% and a return on equity of 48.69%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company posted $0.85 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. Equities analysts expect that Science Applications International Corporation will post $3.79 earnings per share for the current fiscal year.

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In other news, insider Douglas Martin Wagoner sold 30,072 shares of the stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $68.95, for a total transaction of $2,073,464.40. Following the completion of the sale, the insider now directly owns 8,859 shares in the company, valued at $610,828.05. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 44,472 shares of company stock valued at $3,119,732. 2.28% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SAIC. Capstone Asset Management Co. boosted its stake in Science Applications International Corporation by 4.8% during the first quarter. Capstone Asset Management Co. now owns 4,404 shares of the information technology services provider’s stock worth $328,000 after acquiring an additional 200 shares in the last quarter. Profund Advisors LLC boosted its stake in Science Applications International Corporation by 2.4% during the first quarter. Profund Advisors LLC now owns 7,937 shares of the information technology services provider’s stock worth $591,000 after acquiring an additional 189 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in Science Applications International Corporation by 11.8% during the first quarter. Glen Harbor Capital Management LLC now owns 2,890 shares of the information technology services provider’s stock worth $215,000 after acquiring an additional 306 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp bought a new position in Science Applications International Corporation during the first quarter worth $603,000. Finally, Oregon Public Employees Retirement Fund boosted its stake in Science Applications International Corporation by 1.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 15,743 shares of the information technology services provider’s stock worth $1,171,000 after acquiring an additional 200 shares in the last quarter. 63.79% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Science Applications International Corporation (NYSE:SAIC)

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