Science Applications International Corporation (NYSE:SAIC) Given Hold Rating at Cowen and Company

Science Applications International Corporation (NYSE:SAIC)‘s stock had its “hold” rating reiterated by investment analysts at Cowen and Company in a report released on Friday, September 8th. They currently have a $75.00 target price on the information technology services provider’s stock. Cowen and Company’s price target indicates a potential upside of 18.52% from the company’s previous close.

The analysts wrote, “Q2’s ops miss, SAIC’s third in a row, coupled with near term margin pressure suggest.””

Several other brokerages have also commented on SAIC. ValuEngine lowered shares of Science Applications International Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Wells Fargo & Company restated a “market perform” rating and issued a $75.00 price target (down previously from $80.00) on shares of Science Applications International Corporation in a research note on Tuesday, June 13th. 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 on the stock in a research note on Thursday, June 1st. Jefferies Group LLC lowered shares of Science Applications International Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Finally, BidaskClub lowered shares of Science Applications International Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $80.00.

Shares of Science Applications International Corporation (NYSE SAIC) traded up 2.91% during midday trading on Friday, hitting $63.28. The company’s stock had a trading volume of 956,982 shares. Science Applications International Corporation has a 12-month low of $60.21 and a 12-month high of $89.87. The firm has a 50-day moving average of $69.85 and a 200 day moving average of $74.37. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 17.62 and a beta of 1.64.

Science Applications International Corporation (NYSE:SAIC) last released its quarterly earnings data on Thursday, September 7th. The information technology services provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). Science Applications International Corporation had a return on equity of 48.69% and a net margin of 3.77%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company earned $0.85 EPS. Science Applications International Corporation’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts predict that Science Applications International Corporation will post $3.64 EPS for the current fiscal year.

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In related news, insider Douglas Martin Wagoner sold 3,476 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $70.50, for a total value of $245,058.00. Following the completion of the transaction, the insider now owns 106,147 shares of the company’s stock, valued at approximately $7,483,363.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 35,072 shares of company stock valued at $2,427,610 in the last ninety days. Company insiders own 2.28% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Prudential Financial Inc. boosted its position in shares of Science Applications International Corporation by 80.7% during 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. Comerica Bank boosted its position in shares of Science Applications International Corporation by 0.3% during the 2nd quarter. Comerica Bank now owns 56,824 shares of the information technology services provider’s stock valued at $3,958,000 after acquiring an additional 191 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of Science Applications International Corporation by 11.8% during the 1st quarter. Meadow Creek Investment Management LLC now owns 2,380 shares of the information technology services provider’s stock valued at $177,000 after acquiring an additional 252 shares in the last quarter. Smith Asset Management Group LP boosted its position in shares of Science Applications International Corporation by 0.7% during the 2nd quarter. Smith Asset Management Group LP now owns 45,653 shares of the information technology services provider’s stock valued at $3,169,000 after acquiring an additional 330 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Science Applications International Corporation by 0.8% during the 1st quarter. Principal Financial Group Inc. now owns 194,988 shares of the information technology services provider’s stock valued at $14,508,000 after acquiring an additional 1,571 shares in the last quarter. Institutional investors and hedge funds own 63.79% 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.

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

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