Unisys Corporation (NYSE:UIS) Shares Bought by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Unisys Corporation by 62.7% in Q1 2023, acquiring an additional 66,257 shares to reach a total of 171,885 shares, valued at approximately $789,000.
• Unisys reported a quarterly earnings per share of $0.19, significantly beating analysts' expectations of a loss of $0.34, while revenue for the quarter hit $483.30 million, above the anticipated $444.65 million.
• Wall Street analysts have recently upgraded Unisys' rating from "hold" to "buy," with a price target set at $9.00, indicating positive sentiment towards the company's future performance.

Mackenzie Financial Corp increased its holdings in shares of Unisys Corporation (NYSE:UIS - Free Report) by 62.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 171,885 shares of the information technology services provider's stock after buying an additional 66,257 shares during the period. Mackenzie Financial Corp owned about 0.24% of Unisys worth $789,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Virtus Fund Advisers LLC acquired a new stake in Unisys in the 4th quarter valued at about $35,000. Pallas Capital Advisors LLC purchased a new stake in Unisys during the 1st quarter worth about $49,000. Quarry LP lifted its holdings in Unisys by 985.8% during the 4th quarter. Quarry LP now owns 8,556 shares of the information technology services provider's stock worth $54,000 after buying an additional 7,768 shares during the last quarter. Grant GrossMendelsohn LLC acquired a new stake in shares of Unisys during the 1st quarter worth about $60,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Unisys during the first quarter worth approximately $67,000. 86.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on UIS shares. Maxim Group raised shares of Unisys from a "hold" rating to a "buy" rating and set a $9.00 target price on the stock in a research report on Monday. Wall Street Zen raised Unisys from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd.

Unisys Stock Up 0.6%

UIS stock traded up $0.03 during trading on Thursday, hitting $3.97. The company had a trading volume of 820,093 shares, compared to its average volume of 615,746. Unisys Corporation has a 1-year low of $3.52 and a 1-year high of $8.93. The firm has a 50-day moving average price of $4.38 and a 200-day moving average price of $4.76. The firm has a market cap of $282.66 million, a PE ratio of -3.36, a price-to-earnings-growth ratio of 0.55 and a beta of 1.31.

Unisys (NYSE:UIS - Get Free Report) last issued its earnings results on Wednesday, July 30th. The information technology services provider reported $0.19 EPS for the quarter, topping the consensus estimate of ($0.34) by $0.53. The company had revenue of $483.30 million for the quarter, compared to analyst estimates of $444.65 million. Unisys had a negative net margin of 4.16% and a negative return on equity of 12.55%. During the same period in the previous year, the firm earned $0.16 EPS. Sell-side analysts anticipate that Unisys Corporation will post 0.61 earnings per share for the current year.

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.