Unisys (NYSE:UIS) Shares Cross Below 50 Day Moving Average – Here’s Why

Shares of Unisys Corporation (NYSE:UIS) crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $2.43 and traded as low as $2.35. Unisys shares last traded at $2.3650, with a volume of 1,339,085 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on UIS shares. Needham & Company LLC dropped their price objective on shares of Unisys from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Zacks Research downgraded shares of Unisys from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Unisys in a report on Thursday, October 15th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.00.

Unisys Stock Down 4.6%

The firm has a market capitalization of $172.46 million, a price-to-earnings ratio of -0.40, a P/E/G ratio of 0.37 and a beta of 1.98. The company’s 50 day moving average price is $2.43 and its 200 day moving average price is $2.80.

Insider Buying and Selling

In other news, CAO David Brown sold 10,553 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $2.54, for a total value of $26,804.62. Following the sale, the chief accounting officer owned 103,558 shares in the company, valued at $263,037.32. This represents a 9.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.56% of the company’s stock.

Institutional Trading of Unisys

A number of institutional investors and hedge funds have recently made changes to their positions in UIS. Saba Capital Management L.P. boosted its position in 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 last quarter. Pinnacle Holdings LLC purchased a new stake in Unisys in the 2nd quarter valued at $892,000. Integrated Wealth Concepts LLC purchased a new stake in Unisys in the 2nd quarter valued at $743,000. Lazard Asset Management LLC increased its stake 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 worth $414,000 after acquiring 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 worth $712,000. 86.87% of the stock is currently owned by hedge funds and other institutional investors.

About Unisys

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 services, infrastructure modernization, cybersecurity, digital workplace solutions, application services and business process services.

The company serves commercial businesses, governments and other public-sector organizations across North America, Europe, the Asia-Pacific region and Latin America.