Neuberger Berman Group LLC Cuts Position in Unisys Corporation $UIS

Key Points

• Neuberger Berman Group LLC reduced its stake in Unisys Corporation by 2.8%, selling 148,497 shares and now holds 5,095,124 shares valued at $23.3 million.
• Unisys has seen upgrades from analysts, with Maxim Group and Wall Street Zen raising its rating to "buy" and setting a price target of $9.00.
• The company's latest earnings report exceeded expectations, posting $0.19 earnings per share against a consensus estimate of (0.34), with revenue of $483.30 million.

Neuberger Berman Group LLC cut its holdings in Unisys Corporation (NYSE:UIS - Free Report) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,095,124 shares of the information technology services provider's stock after selling 148,497 shares during the period. Neuberger Berman Group LLC owned approximately 7.17% of Unisys worth $23,300,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Cubist Systematic Strategies LLC raised its stake in shares of Unisys by 680.3% during the fourth quarter. Cubist Systematic Strategies LLC now owns 252,803 shares of the information technology services provider's stock valued at $1,600,000 after acquiring an additional 220,404 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Unisys during the fourth quarter valued at about $1,260,000. Vanguard Group Inc. raised its stake in shares of Unisys by 2.7% during the first quarter. Vanguard Group Inc. now owns 7,287,403 shares of the information technology services provider's stock valued at $33,449,000 after acquiring an additional 190,939 shares during the last quarter. Nuveen LLC bought a new position in shares of Unisys during the first quarter valued at about $780,000. Finally, EAM Investors LLC bought a new position in shares of Unisys during the fourth quarter valued at about $764,000. 86.87% of the stock is owned by institutional investors.

Unisys Stock Performance

Shares of NYSE UIS traded down $0.04 during midday trading on Monday, hitting $3.91. 430,883 shares of the company traded hands, compared to its average volume of 635,914. Unisys Corporation has a 12-month low of $3.56 and a 12-month high of $8.93. The stock has a 50-day moving average price of $4.27 and a 200 day moving average price of $4.60. The firm has a market cap of $278.40 million, a P/E ratio of -3.31, 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 results on Wednesday, July 30th. The information technology services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.53. Unisys had a negative net margin of 4.16% and a negative return on equity of 12.55%. The company had revenue of $483.30 million for the quarter, compared to analysts' expectations of $444.65 million. During the same quarter in the previous year, the company earned $0.16 earnings per share. As a group, equities analysts expect that Unisys Corporation will post 0.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on UIS shares. Wall Street Zen downgraded shares of Unisys from a "buy" rating to a "hold" rating in a research note on Saturday. Maxim Group raised shares of Unisys from a "hold" rating to a "buy" rating and set a $9.00 price objective for the company in a research note on Monday, August 4th.

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.