Needham & Company LLC Forecasts Strong Price Appreciation for Unisys (NYSE:UIS) Stock

Unisys (NYSE:UIS) had its price target lifted by research analysts at Needham & Company LLC from $4.00 to $6.00 in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 30.04% from the company’s previous close.

UIS has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Unisys in a research report on Monday, April 20th. Wall Street Zen lowered shares of Unisys from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.33.

Unisys Stock Performance

Unisys stock opened at $4.61 on Wednesday. The company has a market capitalization of $336.36 million, a PE ratio of -0.95, a P/E/G ratio of 0.46 and a beta of 1.84. The company has a 50 day moving average price of $2.69 and a 200-day moving average price of $2.66. Unisys has a fifty-two week low of $1.97 and a fifty-two week high of $5.07.

Unisys (NYSE:UIS) last announced its quarterly earnings data on Tuesday, May 5th. The information technology services provider reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.12. The company had revenue of $437.60 million for the quarter, compared to analysts’ expectations of $415.64 million. Unisys had a negative return on equity of 23.51% and a negative net margin of 17.70%. On average, analysts forecast that Unisys will post 0.7 earnings per share for the current year.

Insider Transactions at Unisys

In other Unisys news, Director Philippe Germond sold 16,080 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $3.02, for a total transaction of $48,561.60. Following the sale, the director owned 256,453 shares of the company’s stock, valued at approximately $774,488.06. This trade represents a 5.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 11.56% of the company’s stock.

Institutional Investors Weigh In On Unisys

A number of hedge funds have recently made changes to their positions in UIS. JPMorgan Chase & Co. grew its stake in Unisys by 18.9% in the second quarter. JPMorgan Chase & Co. now owns 1,714,693 shares of the information technology services provider’s stock valued at $7,768,000 after purchasing an additional 272,627 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Unisys by 106.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 444,084 shares of the information technology services provider’s stock valued at $2,012,000 after buying an additional 229,233 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Unisys by 12.4% in the 2nd quarter. Cerity Partners LLC now owns 24,664 shares of the information technology services provider’s stock valued at $112,000 after buying an additional 2,728 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Unisys in the 2nd quarter valued at about $128,000. Finally, Qube Research & Technologies Ltd grew its position in shares of Unisys by 13.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 533,004 shares of the information technology services provider’s stock worth $2,415,000 after buying an additional 64,002 shares during the last quarter. 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 company that delivers a broad portfolio of digital workplace, cloud and infrastructure, application and security services. Formed in 1986 through the merger of Burroughs Corporation and Sperry Corporation, Unisys combines decades of experience in IT modernization with a focus on secure, data-driven transformations for government and enterprise organizations.

The company operates two core business segments: Services and Technology.