Science Applications (SAIC Quick QuoteSAIC - Free Report) recently launched a centralized data science platform that enables low-code to full-code artificial intelligence (AI) and machine-learning (ML) development and orchestration — Tenjin. The platform offers an extensive and interoperable open architecture that comes with a cloud agnostic flexible deployment model.

SAIC’s newly developed platform Tenjin not only supports full-code technical data scientists and machine learning engineers but also ensures that non-technical users understand AI and data-driven decision-making and can contribute accordingly. Apart from AI and ML development, it provides training, deployment, automation, data preparation and data visualization tools to the government customers.

Andy Henson, vice president, Innovation at SAIC, stated "As many agencies face resource constraints to analyze data, Tenjin offers a low-cost solution to help customers process data with the resources they have available. With Tenjin, professionals at any level can create analytic models with pre-existing data to rapidly gain decision-enabling insights."

Integrated with the Koverse Data Platform, SAIC’s Tenjin operationalizes data with additional security features to build AI algorithms generating government focused solutions in fields like computer vision, natural language processing and data fusion. Powered by Dataiku, Tenjin addresses issues like fusion of disparate data types, extraction of important information from files in support of government’s decision making.

Currently, Science Applications is focusing 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. Increased federal spending is anticipated to accelerate the pace of contract awards, which, in turn, will be beneficial for SAIC’s top-line growth.

Last week, the company received $349 million contract from the U.S. Navy to provide support for the Afloat and Ashore Tactical Networks. Under the five-year contract, the company will continue to deliver In-Service Engineering Agent functions to the Naval Information Warfare Center Pacific.

Prior to that, in January 2023, United States Transportation Command (USTRANSCOM) selected SAIC to modernize the organization’s IT management systems. Under the contract, the company will also be responsible for infusing the latest innovations into USTRANSCOM’s enterprise IT and introducing IT-as-a-service models.

In December 2022, SAIC secured a blanket purchase agreement from the Transportation Security Administration (TSA) to continue performing the operational testing and evaluation of TSA airport screening equipment and non-screening systems. The contract has an estimated value of $150 million.

In November 2022, SAIC secured a single-award contract worth $757 million from the U.S. Army Enterprise Service Desk to provide software development and management services. In September 2022, it won the Systems and Software Assurance Services 2 contract worth $170 million from the National Aeronautics and Space Administration.

In the third quarter of fiscal 2023, SAIC revenues rose 1% year over year to $1.91 billion. The increase was primarily driven by the ramp-up of new and existing contracts, partially offset by contract completions and lower accelerated amortization on certain off-market liability contracts.

The Zacks Consensus Estimate for Science Applications’ fourth-quarter fiscal 2023 revenues is pegged at $1.85 billion compared with the year-ago quarter’s $1.78 billion.

Zacks Rank & Stocks to Consider

Science Applications currently carries a Zacks Rank #3 (Hold). Shares of SAIC jumped 18.9% in the past year.

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