Science Applications International Corp (SAIC) is Downgraded by Wells Fargo to Market Perform

Science Applications International Corp (SAIC) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Jun 13, 2016.

On the company’s financial health, Science Applications International Corp reported $0.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jun 13, 2016. Analyst had a consensus of $0.74. The company had revenue of $1215.00 million for the quarter, compared to analysts expectations of $1152.53 million. The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS.

Science Applications International Corp opened for trading at $56.72 and hit $57.43 on the upside on Friday, eventually ending the session at $57.32, with a gain of 0.28% or 0.16 points. The heightened volatility saw the trading volume jump to 4,14,817 shares. Company has a market cap of $2,567 M.

In a different news, on Apr 14, 2016, John Robert Hartley (Chief Financial Officer) sold 23,000 shares at $51.99 per share price. According to the SEC, on Sep 3, 2015, Anthony J Moraco (CEO) purchased 350 shares at $43.00 per share price. On Sep 3, 2015, Robert A Bedingfield (director) purchased 1,000 shares at $43.44 per share price, according to the Form-4 filing with the securities and exchange commission.

Science Applications International Corporation (SAIC) is a technology integrator. The Company provides life cycle services and solutions in the technical engineering intelligence and enterprise information technology (IT) markets. It provides services to the United States Government including the Department of Defense (DoD) and federal civilian agencies. It provides systems engineering and integration services for projects and offers services with an emphasis on differentiated technology services. SAIC offers products to four branches of the United States military; United States Defense Logistics Agency; National Aeronautics and Space Administration; United States Department of State and United States Department of Homeland Security. SAIC’s offerings include engineering and maintenance of ground and maritime systems logistics training and simulation and services spanning the design development integration deployment management and operations sustainment and security.

Science Applications International Corp

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