Unisys (NYSE:UIS) Price Target Cut to $4.00 by Analysts at Needham & Company LLC

Unisys (NYSE:UIS) had its price objective dropped by stock analysts at Needham & Company LLC from $6.00 to $4.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Needham & Company LLC’s price objective suggests a potential upside of 47.87% from the company’s current price.

A number of other brokerages also recently issued reports on UIS. Weiss Ratings restated a “sell (d-)” rating on shares of Unisys in a report on Wednesday, October 8th. Wall Street Zen cut Unisys from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Jefferies Financial Group began coverage on Unisys in a research note on Monday, September 22nd. They issued a “hold” rating and a $4.00 price target for the company. Finally, Maxim Group raised shares of Unisys from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a research report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.88.

Unisys Trading Down 19.7%

Shares of UIS traded down $0.67 during mid-day trading on Thursday, reaching $2.71. The company’s stock had a trading volume of 1,738,169 shares, compared to its average volume of 638,986. Unisys has a 52 week low of $2.65 and a 52 week high of $8.93. The stock has a market cap of $192.85 million, a PE ratio of -2.30, a P/E/G ratio of 0.52 and a beta of 1.42. The company’s fifty day moving average price is $3.82 and its two-hundred day moving average price is $4.20.

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

Institutional Trading of Unisys

A number of institutional investors and hedge funds have recently modified their holdings of UIS. AlphaQuest LLC raised its position in 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 buying an additional 3,523 shares during the last quarter. Byrne Asset Management LLC purchased a new stake in Unisys during the 2nd quarter valued at $46,000. Los Angeles Capital Management LLC bought a new position in shares of Unisys during the 2nd quarter valued at $53,000. Kapitalo Investimentos Ltda purchased a new position in shares of Unisys in the 2nd quarter worth $54,000. Finally, Grant GrossMendelsohn LLC bought a new stake in shares of Unisys in the first quarter worth $60,000. Institutional investors own 86.87% of the company’s stock.

About Unisys

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.