Unisys (NYSE:UIS) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Unisys Corporation (NYSE:UIS)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.80 and traded as high as $3.63. Unisys shares last traded at $3.60, with a volume of 662,755 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Needham & Company LLC upped their price target on Unisys from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Unisys in a research note on Monday, April 20th. Zacks Research upgraded shares of Unisys from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Finally, Wall Street Zen lowered Unisys from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.33.

Unisys Price Performance

The company’s 50 day simple moving average is $3.29 and its two-hundred day simple moving average is $2.81. The stock has a market capitalization of $254.58 million, a P/E ratio of -0.72, a PEG ratio of 0.33 and a beta of 1.84.

Unisys (NYSE:UIS) last posted its quarterly earnings data on Tuesday, May 5th. The information technology services provider reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.12. Unisys had a negative return on equity of 23.51% and a negative net margin of 17.70%.The company had revenue of $437.60 million for the quarter, compared to analyst estimates of $415.64 million. On average, research analysts anticipate that Unisys Corporation will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Unisys

In related news, Director Philippe Germond sold 20,000 shares of the 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 transaction, the director directly owned 236,453 shares in the company, valued at $981,279.95. This represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 43,846 shares of company stock worth $156,102 over the last ninety days. Insiders own 11.56% of the company’s stock.

Hedge Funds Weigh In On Unisys

A number of hedge funds and other institutional investors have recently made changes to their positions in UIS. JPMorgan Chase & Co. lifted its holdings in Unisys by 18.9% during the second quarter. JPMorgan Chase & Co. now owns 1,714,693 shares of the information technology services provider’s stock worth $7,768,000 after acquiring an additional 272,627 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Unisys by 106.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 444,084 shares of the information technology services provider’s stock valued at $2,012,000 after acquiring an additional 229,233 shares in the last quarter. Cerity Partners LLC boosted its stake in Unisys by 12.4% in the 2nd quarter. Cerity Partners LLC now owns 24,664 shares of the information technology services provider’s stock worth $112,000 after purchasing an additional 2,728 shares during the period. WINTON GROUP Ltd acquired a new position in Unisys in the 2nd quarter worth $128,000. Finally, Qube Research & Technologies Ltd increased its holdings in Unisys by 13.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 533,004 shares of the information technology services provider’s stock worth $2,415,000 after purchasing an additional 64,002 shares in the last quarter. 86.87% of the stock is owned by institutional investors.

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.