The Goldman Sachs Group Cuts Science Applications International (NYSE:SAIC) Price Target to $103.00

Science Applications International (NYSE:SAIC) had its price objective trimmed by The Goldman Sachs Group from $124.00 to $103.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a sell rating on the information technology services provider’s stock.

Other research analysts have also issued research reports about the company. Truist Financial increased their target price on Science Applications International from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Barclays increased their target price on Science Applications International from $135.00 to $150.00 and gave the company an “equal weight” rating in a report on Monday, September 16th. StockNews.com raised Science Applications International from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 9th. Citigroup increased their price objective on Science Applications International from $160.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, UBS Group assumed coverage on shares of Science Applications International in a research note on Monday, December 2nd. They set a “neutral” rating and a $134.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $144.38.

Science Applications International Stock Performance

NYSE SAIC opened at $113.06 on Thursday. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 19.07 and a beta of 0.64. The stock has a 50-day moving average of $135.27 and a 200 day moving average of $128.65. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.20. Science Applications International has a twelve month low of $111.34 and a twelve month high of $156.34.

Science Applications International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, January 10th. This represents a $1.48 annualized dividend and a dividend yield of 1.31%. Science Applications International’s payout ratio is 24.96%.

Insider Buying and Selling

In other Science Applications International news, EVP Barbara Supplee acquired 425 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average cost of $116.36 per share, for a total transaction of $49,453.00. Following the completion of the transaction, the executive vice president now owns 3,579 shares of the company’s stock, valued at approximately $416,452.44. The trade was a 13.47 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On Science Applications International

A number of hedge funds have recently modified their holdings of SAIC. Larson Financial Group LLC purchased a new stake in shares of Science Applications International in the 2nd quarter valued at approximately $27,000. UMB Bank n.a. raised its position in Science Applications International by 438.5% in the third quarter. UMB Bank n.a. now owns 210 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 171 shares during the period. GAMMA Investing LLC lifted its stake in Science Applications International by 236.0% during the third quarter. GAMMA Investing LLC now owns 289 shares of the information technology services provider’s stock worth $40,000 after purchasing an additional 203 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Science Applications International by 30.4% during the second quarter. Fifth Third Bancorp now owns 360 shares of the information technology services provider’s stock worth $42,000 after buying an additional 84 shares during the period. Finally, CWM LLC grew its stake in shares of Science Applications International by 56.8% in the second quarter. CWM LLC now owns 406 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 147 shares in the last quarter. 76.00% of the stock is currently owned by hedge funds and other institutional investors.

Science Applications International Company Profile

Science Applications International Corporation provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. The company's offerings include IT modernization; digital engineering; artificial intelligence; Weapon systems support design, build, modify, integrate, and sustain weapon systems; and end-to-end services, such as design, development, integration, deployment, management and operations, sustainment, and security of its customers' IT infrastructure, as well as training and simulation and ground vehicles support which integrates, modify, upgrades, and sustains ground vehicles for nation's armed forces.