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Science Applications (SAIC) & Yale School of Nursing Tie Up

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Science Applications (SAIC - Free Report) recently announced that it has entered into a partnership with the world’s first nursing school based at a major university — Yale School of Nursing (“YSN”). Per the contract, SAIC will provide funds for research and recommendations relating to improved access to resources across the United States amid the pandemic-induced crisis.

The Reston-based public service provider intends to serve the minority communities through this collaboration. It will support the technological advancement and supply chain modernization tools of the nursing school. SAIC will take care of the modernization part by offering real time data from all supply chain points to the federal agencies. This will ensure an efficient and equitable distribution of vaccines among the underserved.

SAIC stated that it wants to ensure that the minority and the rural communities, which mainly include the Black, Hispanic and immigrant communities, are no more neglected amid this tough time. Its recommendations are aimed at aiding the local, state and federal decision makers to take better pandemic-related decisions.

The company is focused on the federal government marketplace and capturing more market share. It intends to drive operational excellence by intensively focusing on its organic and inorganic growth strategy, and strengthening existing customer relationships while building newer ones. Higher spending as proposed in the latest federal government budget is anticipated to accelerate the pace of contract awards, which in turn will be beneficial for SAIC’s top-line growth.

During third-quarter fiscal 2022, SAIC reported revenues of $1.90 billion, witnessing a 4% surge from the year-ago quarter. This was mainly driven by contributions from the newly acquired Halfaker business and the ramp-up of new and existing contracts.

The Zacks Consensus estimate for SAIC’s fourth-quarter 2022 revenues is pegged at $1.78 billion, suggesting year-over-year growth of 3.5%.

Zacks Rank & Other Key Picks

SAIC currently carries a Zacks Rank #3 (Hold). Shares of SAIC have fallen 9.9% in the past year.

Some better-ranked stocks from the broader computer and technology sector are Advanced Micro Devices (AMD - Free Report) , sporting a Zacks Rank #1 (Strong Buy), Axcelis Technologies (ACLS - Free Report) and Analog Devices (ADI - Free Report) , both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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