Science Applications International Corporation (NYSE:SAIC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

According to Zacks, “Science Applications International Corp. is engaged in transaction, technical, engineering and enterprise IT services business. The Company provides services in two segments: government segment and commercial segment. Its government segment servers primarily to United States federal, state and local government agencies and foreign governments. The commercial segment provides technology-driven consulting and systems integration services and solutions. Science Applications International Corp. is headquartered in McLean, VA. “

A number of other research firms have also commented on SAIC. ValuEngine lowered Science Applications International Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $75.00 price target (down previously from $80.00) on shares of Science Applications International Corporation in a research report on Tuesday, June 13th. Cowen and Company reaffirmed a “hold” rating and set a $75.00 price target on shares of Science Applications International Corporation in a research report on Friday, May 5th. Jefferies Group LLC lowered Science Applications International Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, BidaskClub lowered Science Applications International Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $81.63.

Shares of Science Applications International Corporation (SAIC) traded up 0.78% on Wednesday, reaching $69.68. The company’s stock had a trading volume of 151,717 shares. The stock has a market cap of $3.04 billion, a P/E ratio of 19.40 and a beta of 1.65. The firm’s 50 day moving average is $70.69 and its 200-day moving average is $76.35. Science Applications International Corporation has a 52-week low of $62.55 and a 52-week high of $89.87.

Science Applications International Corporation (NYSE:SAIC) last released its quarterly earnings results on Monday, June 12th. The information technology services provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. Science Applications International Corporation had a return on equity of 47.08% and a net margin of 3.78%. Science Applications International Corporation’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.80 EPS. On average, equities research analysts forecast that Science Applications International Corporation will post $3.79 EPS for the current year.

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In other Science Applications International Corporation news, insider Douglas Martin Wagoner sold 9,400 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $73.63, for a total transaction of $692,122.00. Following the transaction, the insider now owns 50,175 shares in the company, valued at approximately $3,694,385.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 44,472 shares of company stock worth $3,119,732 in the last quarter. Company insiders own 2.28% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SAIC. Tyers Asset Management LLC increased its position in Science Applications International Corporation by 11.8% in the first quarter. Tyers Asset Management LLC now owns 1,360 shares of the information technology services provider’s stock worth $101,000 after buying an additional 144 shares during the period. Sei Investments Co. increased its position in Science Applications International Corporation by 2.9% in the first quarter. Sei Investments Co. now owns 1,385 shares of the information technology services provider’s stock worth $103,000 after buying an additional 39 shares during the period. Harbour Capital Advisors LLC purchased a new position in Science Applications International Corporation during the first quarter worth $132,000. Bank of Montreal Can increased its position in Science Applications International Corporation by 128.3% in the second quarter. Bank of Montreal Can now owns 1,906 shares of the information technology services provider’s stock worth $132,000 after buying an additional 1,071 shares during the period. Finally, Elkfork Partners LLC increased its position in Science Applications International Corporation by 11.8% in the first quarter. Elkfork Partners LLC now owns 1,870 shares of the information technology services provider’s stock worth $139,000 after buying an additional 198 shares during the period. Hedge funds and other institutional investors own 66.00% of the company’s stock.

About Science Applications International Corporation

Science Applications International Corporation (SAIC) is a provider of technical, engineering and enterprise information technology (IT) services. The Company provides its services primarily to the United States Government, including the Department of Defense (DoD), the intelligence community and federal civilian agencies.

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Analyst Recommendations for Science Applications International Corporation (NYSE:SAIC)

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