Research analysts at Maxim Group initiated coverage on shares of Unisys (NYSE:UIS) in a research note issued to investors on Wednesday, Briefing.com reports. The firm set a “buy” rating and a $35.00 price target on the information technology services provider’s stock. Maxim Group’s price objective would indicate a potential upside of 50.21% from the company’s previous close.
Separately, Canaccord Genuity raised shares of Unisys from a “hold” rating to a “buy” rating in a research note on Wednesday, August 4th.
Shares of NYSE:UIS opened at $23.30 on Wednesday. The firm has a 50 day simple moving average of $23.40 and a 200 day simple moving average of $24.68. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -3.11 and a beta of 0.47. Unisys has a one year low of $10.12 and a one year high of $28.60.
In related news, SVP Gerald P. Kenney sold 10,000 shares of Unisys stock in a transaction on Wednesday, August 4th. The shares were sold at an average price of $24.25, for a total transaction of $242,500.00. Following the completion of the transaction, the senior vice president now owns 72,323 shares of the company’s stock, valued at $1,753,832.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise bought a new position in Unisys during the second quarter worth $35,000. Captrust Financial Advisors grew its holdings in Unisys by 573.4% in the first quarter. Captrust Financial Advisors now owns 1,926 shares of the information technology services provider’s stock worth $49,000 after purchasing an additional 1,640 shares during the period. Point72 Hong Kong Ltd grew its holdings in Unisys by 123.2% in the first quarter. Point72 Hong Kong Ltd now owns 2,670 shares of the information technology services provider’s stock worth $68,000 after purchasing an additional 1,474 shares during the period. Advisor Group Holdings Inc. grew its holdings in Unisys by 176.9% in the second quarter. Advisor Group Holdings Inc. now owns 2,941 shares of the information technology services provider’s stock worth $75,000 after purchasing an additional 1,879 shares during the period. Finally, Royal Bank of Canada grew its holdings in Unisys by 71.9% in the second quarter. Royal Bank of Canada now owns 6,471 shares of the information technology services provider’s stock worth $164,000 after purchasing an additional 2,706 shares during the period. 90.31% of the stock is owned by institutional investors and hedge funds.
Unisys Corp. engages in the provision of security-centric information technology solutions for clients across the government, financial services, and commercial markets. It operates through the Services and Technology business segments. The Services segment consists of cloud and infrastructure services, application services, and business process outsourcing services.
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