Pinnacle Holdings LLC Acquires Shares of 243,847 Unisys Corporation $UIS

Pinnacle Holdings LLC acquired a new stake in Unisys Corporation (NYSE:UIS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 243,847 shares of the information technology services provider’s stock, valued at approximately $892,000. Pinnacle Holdings LLC owned 0.33% of Unisys at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of UIS. Bank of New York Mellon Corp purchased a new stake in Unisys in the 2nd quarter valued at $712,000. Royal Bank of Canada grew its position in Unisys by 487.1% during the 1st quarter. Royal Bank of Canada now owns 14,032 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 11,642 shares during the last quarter. Saba Capital Management L.P. grew its position in Unisys by 15.5% during the 1st quarter. Saba Capital Management L.P. now owns 1,791,963 shares of the information technology services provider’s stock worth $3,709,000 after purchasing an additional 240,476 shares during the last quarter. Lazard Asset Management LLC grew its position in Unisys by 43.0% during the 1st quarter. Lazard Asset Management LLC now owns 200,155 shares of the information technology services provider’s stock worth $414,000 after purchasing an additional 60,170 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Unisys by 169.4% in the first quarter. Sei Investments Co. now owns 69,861 shares of the information technology services provider’s stock valued at $145,000 after purchasing an additional 43,927 shares during the period. 86.87% of the stock is currently owned by hedge funds and other institutional investors.

Unisys Price Performance

NYSE:UIS opened at $2.73 on Monday. The firm’s fifty day moving average price is $3.37 and its 200 day moving average price is $2.93. Unisys Corporation has a 1-year low of $1.97 and a 1-year high of $4.98. The firm has a market cap of $199.07 million, a price-to-earnings ratio of -0.46, a price-to-earnings-growth ratio of 0.32 and a beta of 1.90.

Unisys (NYSE:UIS) last announced its quarterly earnings data on Wednesday, July 29th. The information technology services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The firm had revenue of $473.50 million during the quarter, compared to analyst estimates of $448.92 million. Unisys had a negative net margin of 21.65% and a negative return on equity of 14.09%. As a group, analysts expect that Unisys Corporation will post 0.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on UIS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Unisys in a report on Friday, July 17th. Needham & Company LLC lowered their price target on Unisys from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Wall Street Zen cut Unisys from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Zacks Research downgraded Unisys from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Unisys has a consensus rating of “Hold” and a consensus price target of $4.50.

Insider Buying and Selling at Unisys

In other news, Director Philippe Germond sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $4.15, for a total transaction of $83,000.00. Following the transaction, the director directly owned 236,453 shares in the company, valued at $981,279.95. The trade was a 7.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 11.56% of the stock is currently owned by insiders.

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.