Wells Fargo & Company Has Lowered Expectations for Science Applications International (NYSE:SAIC) Stock Price

Science Applications International (NYSE:SAIC) had its price objective lowered by Wells Fargo & Company from $149.00 to $139.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 38.55% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Cantor Fitzgerald raised Science Applications International to a “hold” rating in a report on Tuesday. The Goldman Sachs Group decreased their target price on shares of Science Applications International from $124.00 to $103.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. JPMorgan Chase & Co. decreased their price objective on Science Applications International from $170.00 to $148.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. UBS Group assumed coverage on Science Applications International in a report on Monday, December 2nd. They set a “neutral” rating and a $134.00 target price for the company. Finally, TD Cowen cut Science Applications International from a “buy” rating to a “hold” rating and decreased their price target for the stock from $155.00 to $120.00 in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Science Applications International presently has a consensus rating of “Hold” and an average price target of $136.11.

Science Applications International Trading Down 0.3 %

Shares of SAIC stock opened at $100.33 on Wednesday. The business has a 50-day moving average price of $109.56 and a two-hundred day moving average price of $125.19. Science Applications International has a 12-month low of $95.86 and a 12-month high of $156.34. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.20. The firm has a market cap of $4.90 billion, a P/E ratio of 16.92 and a beta of 0.66.

Insider Buying and Selling at Science Applications International

In other news, Director Katharina G. Mcfarland sold 3,239 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $117.70, for a total value of $381,230.30. Following the transaction, the director now directly owns 6,864 shares in the company, valued at $807,892.80. The trade was a 32.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Barbara Supplee bought 425 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of $116.36 per share, for a total transaction of $49,453.00. Following the purchase, the executive vice president now directly owns 3,579 shares in the company, valued at $416,452.44. This trade represents a 13.47 % increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Science Applications International

Several institutional investors have recently bought and sold shares of SAIC. Formidable Asset Management LLC bought a new position in Science Applications International during the fourth quarter valued at $423,000. Public Employees Retirement System of Ohio purchased a new stake in Science Applications International in the 4th quarter worth about $2,023,000. CSS LLC IL bought a new stake in Science Applications International in the fourth quarter worth about $437,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Science Applications International by 12.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,388 shares of the information technology services provider’s stock valued at $15,916,000 after buying an additional 15,436 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in shares of Science Applications International during the fourth quarter valued at approximately $4,992,000. Institutional investors own 76.00% of the company’s stock.

About Science Applications International

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.