Citigroup Cuts Science Applications International (NASDAQ:SAIC) Price Target to $120.00

Science Applications International (NASDAQ:SAIC) had its target price decreased by Citigroup from $133.00 to $120.00 in a research note published on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

SAIC has been the topic of several other reports. The Goldman Sachs Group cut their target price on Science Applications International from $94.00 to $82.00 and set a “sell” rating on the stock in a report on Thursday, February 12th. UBS Group increased their price objective on Science Applications International from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Monday, December 8th. JPMorgan Chase & Co. raised their price objective on Science Applications International from $115.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Truist Financial reduced their target price on Science Applications International from $110.00 to $95.00 and set a “hold” rating for the company in a report on Tuesday, March 17th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Science Applications International in a research report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $112.44.

Science Applications International Stock Performance

SAIC stock opened at $100.11 on Thursday. The firm has a 50 day moving average of $94.40 and a two-hundred day moving average of $97.04. Science Applications International has a 12 month low of $81.08 and a 12 month high of $124.11. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 13.02 and a beta of 0.30. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.65.

Science Applications International (NASDAQ:SAIC) last released its quarterly earnings results on Monday, March 16th. The company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. Science Applications International had a net margin of 4.93% and a return on equity of 33.15%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the firm earned $2.57 EPS. Science Applications International’s revenue for the quarter was down 4.8% on a year-over-year basis.

Science Applications International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, April 10th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, April 10th. Science Applications International’s dividend payout ratio (DPR) is currently 19.25%.

Hedge Funds Weigh In On Science Applications International

Several large investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC acquired a new stake in Science Applications International in the 4th quarter valued at approximately $25,000. Transamerica Financial Advisors LLC lifted its holdings in shares of Science Applications International by 477.8% during the fourth quarter. Transamerica Financial Advisors LLC now owns 260 shares of the company’s stock worth $26,000 after buying an additional 215 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Science Applications International by 1,915.4% during the second quarter. Rakuten Securities Inc. now owns 262 shares of the company’s stock worth $30,000 after buying an additional 249 shares during the last quarter. Quent Capital LLC bought a new stake in shares of Science Applications International in the third quarter valued at approximately $29,000. Finally, Wexford Capital LP bought a new stake in shares of Science Applications International in the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 76.00% of the company’s stock.

About Science Applications International

Science Applications International Corp. (SAIC) is a leading provider of technical, engineering, and enterprise IT services to the U.S. government, including the Department of Defense, the intelligence community, and civilian agencies. The company’s core offerings encompass systems engineering and integration, mission support, cybersecurity, data analytics, and cloud solutions. SAIC’s work spans the full program lifecycle, from research and development to deployment and sustainment, addressing complex defense, space, and national security challenges.

Founded in 1969 by J.