Unisys (UIS) Upgraded at Zacks Investment Research

Unisys (NYSE:UIS) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued on Friday. The firm presently has a $14.00 price target on the information technology services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 9.37% from the stock’s previous close.

According to Zacks, “Unisys' focus on application-based managed services will enable Unisys to more effectively pursue long-term application outsourcing opportunities, as well as associated application modernization and implementation project work. Moreover, We expect the company to continue with its cost-control initiatives and put greater effort towards sales growth, as it strives to overcome its operational weaknesses. Also, Unisys expects the joint venture called iPSL with three large U.K. based banks to be accretive to its top-line in the forthcoming quarters. It has a strong product line in its Technology segment, and is expanding its distribution capabilities by building new reseller channels. Shares have outperformed the industry in the past one year. However, Unisys' performance continues to be adversely affected by currency fluctuations and a decline in annual contract value owing to lower contracts and federal business.”

Several other research firms have also recently weighed in on UIS. ValuEngine cut Unisys from a “buy” rating to a “hold” rating in a research report on Monday, November 12th. Loop Capital set a $13.00 price target on Unisys and gave the stock a “hold” rating in a research report on Wednesday, December 12th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.33.

Unisys stock traded up $0.38 during trading hours on Friday, hitting $12.80. 15,303 shares of the stock traded hands, compared to its average volume of 705,849. The stock has a market cap of $635.77 million, a price-to-earnings ratio of 5.29 and a beta of 1.35. Unisys has a one year low of $8.00 and a one year high of $20.95.

Unisys (NYSE:UIS) last posted its quarterly earnings data on Thursday, November 8th. The information technology services provider reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). The firm had revenue of $688.30 million for the quarter, compared to the consensus estimate of $669.60 million. Unisys had a net margin of 3.62% and a negative return on equity of 15.39%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 earnings per share. As a group, equities analysts forecast that Unisys will post 1.64 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its holdings in Unisys by 0.6% in the 2nd quarter. FMR LLC now owns 7,644,679 shares of the information technology services provider’s stock worth $98,616,000 after acquiring an additional 48,798 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Unisys by 65.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 50,008 shares of the information technology services provider’s stock worth $1,020,000 after acquiring an additional 19,708 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Unisys by 7.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 741,017 shares of the information technology services provider’s stock worth $9,560,000 after acquiring an additional 50,916 shares during the last quarter. D.A. Davidson & CO. purchased a new position in Unisys in the 3rd quarter worth approximately $315,000. Finally, Wells Fargo & Company MN raised its holdings in Unisys by 0.3% in the 3rd quarter. Wells Fargo & Company MN now owns 956,923 shares of the information technology services provider’s stock worth $19,522,000 after acquiring an additional 3,314 shares during the last quarter.

Unisys Company Profile

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

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