Unisys (NYSE:UIS) Downgraded by Zacks Research to Strong Sell

Unisys (NYSE:UIS) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday, Zacks reports.

Several other analysts have also recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Unisys in a research note on Thursday. Needham & Company LLC reduced their price target on shares of Unisys from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.00.

Unisys Trading Down 2.0%

Unisys stock traded down $0.04 during midday trading on Thursday, hitting $2.21. 524,214 shares of the stock were exchanged, compared to its average volume of 686,492. Unisys has a fifty-two week low of $1.97 and a fifty-two week high of $4.98. The stock has a market capitalization of $160.79 million, a price-to-earnings ratio of -0.37, a PEG ratio of 0.33 and a beta of 1.97. The stock’s 50-day simple moving average is $2.50 and its 200 day simple moving average is $2.96.

Unisys (NYSE:UIS) last issued its earnings results on Wednesday, July 29th. The information technology services provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The firm had revenue of $473.50 million for the quarter, compared to analysts’ expectations of $448.92 million. Unisys had a negative return on equity of 14.09% and a negative net margin of 21.65%. Equities analysts anticipate that Unisys will post 0.45 EPS for the current fiscal year.

Insider Buying and Selling at Unisys

In other news, CAO David Brown sold 10,553 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $2.54, for a total value of $26,804.62. Following the sale, the chief accounting officer directly owned 103,558 shares of the company’s stock, valued at approximately $263,037.32. The trade was a 9.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Unisys

Institutional investors have recently bought and sold shares of the company. Saba Capital Management L.P. increased its position in shares of Unisys by 15.5% during the first quarter. Saba Capital Management L.P. now owns 1,791,963 shares of the information technology services provider’s stock worth $3,709,000 after acquiring an additional 240,476 shares during the period. Pinnacle Holdings LLC purchased a new stake in shares of Unisys in the 2nd quarter valued at approximately $892,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Unisys in the 2nd quarter valued at approximately $743,000. Lazard Asset Management LLC increased its position in shares of Unisys by 43.0% in the 1st quarter. Lazard Asset Management LLC now owns 200,155 shares of the information technology services provider’s stock valued at $414,000 after purchasing an additional 60,170 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Unisys in the 2nd quarter valued at $712,000. 86.87% of the stock is owned by institutional investors and hedge funds.

Unisys Company Profile

Unisys Corporation (NYSE: UIS) is a global information technology services and solutions company that helps organizations modernize and manage their technology environments. Its offerings include cloud and infrastructure services, digital workplace solutions, cybersecurity, application modernization, and business process services.

The company provides technology consulting, systems integration, managed services, and support for enterprise computing environments. Unisys also develops specialized solutions for areas such as digital identity, secure infrastructure, transportation, government services, and other industries with complex technology and security requirements.

Unisys was formed in 1986 through the merger of Burroughs Corporation and Sperry Corporation, two established computer companies.