Unisys Corporation $UIS Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its position in shares of Unisys Corporation (NYSE:UIS) by 31.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 912,900 shares of the information technology services provider’s stock after selling 410,333 shares during the period. Renaissance Technologies LLC’s holdings in Unisys were worth $1,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. IES Holdings Inc. bought a new stake in Unisys during the fourth quarter valued at $3,235,000. Millennium Management LLC lifted its position in shares of Unisys by 170.6% in the 3rd quarter. Millennium Management LLC now owns 1,726,339 shares of the information technology services provider’s stock worth $6,733,000 after buying an additional 1,088,380 shares during the last quarter. Saba Capital Management L.P. lifted its position in shares of Unisys by 65.8% in the 4th quarter. Saba Capital Management L.P. now owns 1,551,487 shares of the information technology services provider’s stock worth $4,282,000 after buying an additional 615,632 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Unisys by 36.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,744,864 shares of the information technology services provider’s stock valued at $4,816,000 after buying an additional 468,340 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of Unisys by 29.1% in the 4th quarter. Federated Hermes Inc. now owns 1,494,555 shares of the information technology services provider’s stock valued at $4,125,000 after buying an additional 336,711 shares during the period. Institutional investors and hedge funds own 86.87% of the company’s stock.

Insider Activity at Unisys

In other Unisys news, Director Philippe Germond sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $4.15, for a total value of $83,000.00. Following the sale, the director owned 236,453 shares in the company, valued at approximately $981,279.95. This trade represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.56% of the company’s stock.

Analysts Set New Price Targets

UIS has been the topic of several research reports. Needham & Company LLC dropped their price objective on shares of Unisys from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Unisys in a research note on Friday, July 17th. Zacks Research lowered Unisys from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Wall Street Zen cut Unisys from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.50.

Unisys Stock Performance

Unisys stock opened at $2.81 on Wednesday. The company has a 50-day simple moving average of $3.57 and a 200-day simple moving average of $2.93. The firm has a market capitalization of $204.54 million, a P/E ratio of -0.48, a P/E/G ratio of 0.34 and a beta of 1.90. Unisys Corporation has a one year low of $1.97 and a one year high of $4.98.

Unisys (NYSE:UIS) last issued its quarterly earnings data on Wednesday, July 29th. The information technology services provider reported ($0.08) earnings per share 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 the consensus estimate 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, sell-side analysts forecast that Unisys Corporation will post 0.57 earnings per share for the current year.

Unisys Company Profile

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.