Science Applications International Corp. (NYSE: SAIC) Upgraded at Zacks Investment Research

Analysts at Zacks Investment Research upgraded shares of Science Applications International Corp. (NYSE: SAIC) from Hold to Buy today. Zacks Investment Research currently has a rating of Buy on the shares. The one-year price target of $71.50 is higher than the opening price of $68.07, that has caused a fair amount of other analysts to issue statements on the stock in recent days. Looking back over the last 52 weeks, Science Applications International Corp. stock has a high of $72.50. Stock prices sometimes get a spike to the upside when analysts upgrade a stock.

The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end

On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.

The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.

S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.

Yesterday Science Applications International Corp. (NYSE: SAIC) shares last traded at $68.44, a spike of $0.79 over the previous closing price. Opening at $68.07, they fluctuated from $67.68 and $68.57 throughout the day.

Science Applications International Corp. (NYSE: SAIC) now has a market cap of 3.03B.

316,834 shares crossed the trading desk yesterday, above the norm, out of a total float 43,738,000. Substantial gains in trading volume and price appreciation together could mean excessive volume accumulation by institutional investors.

While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a series of days or weeks sends a positive cue to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These instituitional investors retain substantial teams of analysts that investigate thousands of stocks, so it is good corroboration to see them taking a postion in a stock you’re researching.

Traders can make more impactful judgments on trades when they track the trading habits of professional investors.

Trades for Science Applications International Corp. (NYSE: SAIC) have ranged from $39.28 – 72.50, and the stock now has a 50-day MA of $63.86 and 200-day MA of $56.75. Today’s last price is 0.06% under the 52 week high of $72.50.

Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors identify companies that have increased their earnings at least 25% or more for 3 consecutive years.

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