Unisys (NYSE:UIS) Coverage Initiated at Canaccord Genuity

Canaccord Genuity began coverage on shares of Unisys (NYSE:UIS) in a research note released on Thursday morning, BenzingaRatingsTable reports. The firm issued a hold rating and a $13.00 price objective on the information technology services provider’s stock.

Shares of NYSE UIS opened at $11.57 on Thursday. The stock has a fifty day moving average price of $11.24 and a 200 day moving average price of $9.37. Unisys has a 1-year low of $6.39 and a 1-year high of $15.16. The company has a market cap of $724.40 million, a PE ratio of 4.68 and a beta of 1.59.

Unisys (NYSE:UIS) last announced its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.03. Unisys had a net margin of 0.63% and a negative return on equity of 14.15%. The company had revenue of $757.60 million during the quarter, compared to the consensus estimate of $714.85 million. During the same quarter in the prior year, the firm earned $0.39 EPS. Unisys’s quarterly revenue was up 10.1% on a year-over-year basis.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank lifted its position in Unisys by 2.2% in the second quarter. Swiss National Bank now owns 95,000 shares of the information technology services provider’s stock valued at $923,000 after purchasing an additional 2,000 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Unisys during the 2nd quarter worth approximately $2,667,000. Morgan Stanley lifted its holdings in shares of Unisys by 199.4% in the 2nd quarter. Morgan Stanley now owns 338,288 shares of the information technology services provider’s stock valued at $3,289,000 after buying an additional 225,318 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of Unisys by 44.7% in the 2nd quarter. GSA Capital Partners LLP now owns 92,592 shares of the information technology services provider’s stock valued at $900,000 after buying an additional 28,596 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in shares of Unisys by 131.9% in the second quarter. Point72 Asset Management L.P. now owns 459,630 shares of the information technology services provider’s stock valued at $4,468,000 after buying an additional 261,469 shares in the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

About Unisys

Unisys Corporation operates as an information technology company worldwide. It operates in two segments, Services and Technology. The Services segment offers cloud and infrastructure services, application services, and business process outsourcing services. The Technology segment designs and develops software, and hardware and other related products.

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