Saba Capital Management L.P. Increases Position in Unisys Corporation $UIS

Saba Capital Management L.P. lifted its stake in Unisys Corporation (NYSE:UIS) by 15.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,791,963 shares of the information technology services provider’s stock after purchasing an additional 240,476 shares during the period. Saba Capital Management L.P.’s holdings in Unisys were worth $3,709,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its holdings in Unisys by 43.0% in the first quarter. Lazard Asset Management LLC now owns 200,155 shares of the information technology services provider’s stock valued at $414,000 after buying an additional 60,170 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Unisys by 169.4% during the 1st quarter. Sei Investments Co. now owns 69,861 shares of the information technology services provider’s stock worth $145,000 after acquiring an additional 43,927 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Unisys during the 1st quarter worth approximately $26,000. Abel Hall LLC acquired a new stake in shares of Unisys in the 1st quarter worth approximately $27,000. Finally, Diversified Trust Co increased its stake in Unisys by 38.8% in the 1st quarter. Diversified Trust Co now owns 29,583 shares of the information technology services provider’s stock valued at $61,000 after purchasing an additional 8,270 shares in the last quarter. Hedge funds and other institutional investors own 86.87% of the company’s stock.

Wall Street Analyst Weigh In

UIS has been the topic of a number of research analyst reports. Needham & Company LLC boosted their target price on Unisys from $4.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Wall Street Zen cut Unisys from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Unisys in a research note on Friday, July 17th. Finally, Zacks Research upgraded shares of Unisys from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.33.

Insider Buying and Selling at Unisys

In other news, Director Philippe Germond sold 20,000 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $4.15, for a total value of $83,000.00. Following the completion of the transaction, the director directly owned 236,453 shares of the company’s stock, valued at $981,279.95. The trade was a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 43,846 shares of company stock valued at $156,102 over the last ninety days. Insiders own 11.56% of the company’s stock.

Unisys Price Performance

Shares of UIS opened at $3.38 on Tuesday. Unisys Corporation has a 1-year low of $1.97 and a 1-year high of $4.98. The stock has a market cap of $246.04 million, a price-to-earnings ratio of -0.69, a price-to-earnings-growth ratio of 0.28 and a beta of 1.87. The firm has a 50 day simple moving average of $3.69 and a 200-day simple moving average of $2.94.

Unisys (NYSE:UIS) last posted its earnings results on Tuesday, May 5th. The information technology services provider reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.12. The firm had revenue of $437.60 million for the quarter, compared to analyst estimates of $415.64 million. Unisys had a negative return on equity of 23.51% and a negative net margin of 17.70%. On average, equities analysts expect that Unisys Corporation will post 0.74 earnings per share for the current fiscal year.

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.