Needham & Company LLC Lowers Unisys (NYSE:UIS) Price Target to $4.00

Unisys (NYSE:UIS) had its target price lowered by Needham & Company LLC from $6.00 to $4.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Needham & Company LLC’s price objective indicates a potential upside of 46.79% from the stock’s current price.

Other analysts also recently issued reports about the company. Maxim Group upgraded Unisys from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a research report on Monday, August 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Unisys in a report on Wednesday, October 8th. Jefferies Financial Group started coverage on shares of Unisys in a research note on Monday, September 22nd. They set a “hold” rating and a $4.00 price target for the company. Finally, Wall Street Zen lowered shares of Unisys from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Unisys currently has a consensus rating of “Hold” and a consensus price target of $5.88.

Unisys Stock Performance

UIS opened at $2.73 on Thursday. Unisys has a fifty-two week low of $2.63 and a fifty-two week high of $8.93. The stock has a market cap of $194.27 million, a price-to-earnings ratio of -2.31, a price-to-earnings-growth ratio of 0.52 and a beta of 1.42. The firm’s fifty day moving average is $3.77 and its 200 day moving average is $4.18.

Unisys (NYSE:UIS) last posted its quarterly earnings results on Thursday, June 15th. The information technology services provider reported ($0.02) EPS for the quarter. The business had revenue of $446.70 million during the quarter. Unisys had a negative return on equity of 12.55% and a negative net margin of 4.16%. On average, equities research analysts predict that Unisys will post 0.61 earnings per share for the current year.

Institutional Investors Weigh In On Unisys

A number of hedge funds have recently made changes to their positions in UIS. AlphaQuest LLC boosted its position in shares of Unisys by 56.9% in the 1st quarter. AlphaQuest LLC now owns 9,716 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 3,523 shares in the last quarter. Byrne Asset Management LLC acquired a new position in Unisys during the 2nd quarter valued at about $46,000. Los Angeles Capital Management LLC purchased a new stake in Unisys in the second quarter valued at about $53,000. Kapitalo Investimentos Ltda acquired a new stake in Unisys in the second quarter worth about $54,000. Finally, Calton & Associates Inc. boosted its holdings in Unisys by 47.5% in the third quarter. Calton & Associates Inc. now owns 14,750 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 4,750 shares in the last quarter. 86.87% of the stock is currently owned by hedge funds and other institutional investors.

Unisys Company Profile

Unisys Corporation, together with its subsidiaries, operates as an information technology solutions company in the United States and internationally. It operates in three segments: Digital Workplace Solutions (DWS); Cloud, Applications & Infrastructure Solutions (CA&I); and Enterprise Computing Solutions.