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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Virtus Fund Advisers LLC acquired a new stake in Unisys in the fourth quarter worth approximately $35,000. Quarry LP lifted its position in Unisys by 985.8% in the fourth quarter. Quarry LP now owns 8,556 shares of the information technology services provider's stock worth $54,000 after purchasing an additional 7,768 shares during the period. Pallas Capital Advisors LLC acquired a new stake in Unisys in the first quarter worth approximately $49,000. Boothbay Fund Management LLC acquired a new stake in Unisys in the fourth quarter worth approximately $68,000. Finally, Grant GrossMendelsohn LLC acquired a new stake in Unisys in the first quarter worth approximately $60,000. 86.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Unisys from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Maxim Group upgraded Unisys from a "hold" rating to a "buy" rating and set a $9.00 price objective for the company in a research report on Monday, August 4th.

Unisys Price Performance

Shares of NYSE:UIS traded down $0.16 on Friday, reaching $3.80. 1,213,784 shares of the company traded hands, compared to its average volume of 680,836. Unisys Corporation has a fifty-two week low of $3.56 and a fifty-two week high of $8.93. The company's 50 day moving average is $4.34 and its 200-day moving average is $4.72. The stock has a market capitalization of $270.55 million, a PE ratio of -3.22, a P/E/G ratio of 0.54 and a beta of 1.31.

Unisys (NYSE:UIS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The information technology services provider reported $0.19 EPS for the quarter, beating analysts' consensus estimates of ($0.34) by $0.53. Unisys had a negative return on equity of 12.55% and a negative net margin of 4.16%. The company had revenue of $483.30 million during the quarter, compared to the consensus estimate of $444.65 million. During the same quarter in the prior year, the firm earned $0.16 EPS. As a group, analysts expect that Unisys Corporation will post 0.61 EPS for the current year.

Unisys Profile

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.