Wells Fargo & Company Forecasts Strong Price Appreciation for Science Applications International (NYSE:SAIC) Stock

Science Applications International (NYSE:SAIC) had its target price raised by investment analysts at Wells Fargo & Company from $147.00 to $154.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 30.44% from the stock’s current price.

Several other research analysts have also recently commented on SAIC. Citigroup increased their price target on Science Applications International from $160.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group assumed coverage on Science Applications International in a report on Monday, December 2nd. They set a “neutral” rating and a $134.00 price target for the company. Barclays boosted their price target on Science Applications International from $135.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Truist Financial raised their price target on Science Applications International from $125.00 to $135.00 and gave the company a “hold” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. upgraded shares of Science Applications International from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $150.00 to $170.00 in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Science Applications International currently has an average rating of “Hold” and an average target price of $145.25.

Science Applications International Price Performance

Shares of SAIC stock opened at $118.06 on Thursday. Science Applications International has a 12-month low of $112.00 and a 12-month high of $156.34. The firm has a fifty day moving average of $138.09 and a 200-day moving average of $129.49. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 21.23 and a beta of 0.64. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.21.

Science Applications International (NYSE:SAIC) last issued its quarterly earnings results on Thursday, September 5th. The information technology services provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.19. Science Applications International had a return on equity of 22.88% and a net margin of 3.97%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the company posted $2.05 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Science Applications International will post 8.21 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas bought a new position in shares of Science Applications International in the 3rd quarter valued at $1,713,000. Tidal Investments LLC acquired a new stake in Science Applications International in the third quarter valued at approximately $200,000. TD Private Client Wealth LLC boosted its holdings in shares of Science Applications International by 53.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,524 shares of the information technology services provider’s stock valued at $212,000 after acquiring an additional 532 shares in the last quarter. Arete Wealth Advisors LLC boosted its stake in shares of Science Applications International by 42.0% during the third quarter. Arete Wealth Advisors LLC now owns 7,635 shares of the information technology services provider’s stock valued at $1,063,000 after purchasing an additional 2,260 shares in the last quarter. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Science Applications International during the third quarter worth about $249,000. 76.00% of the stock is owned by institutional investors.

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.