Neuberger Berman Group LLC Sells 148,497 Shares of Unisys Corporation (NYSE: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 shares of Unisys Corporation (NYSE:UIS - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Virtus Fund Advisers LLC bought a new stake in shares of Unisys during the fourth quarter worth about $35,000. Pallas Capital Advisors LLC bought a new stake in shares of Unisys during the first quarter worth about $49,000. Quarry LP increased its position in shares of Unisys by 985.8% during the fourth quarter. Quarry LP now owns 8,556 shares of the information technology services provider's stock worth $54,000 after acquiring an additional 7,768 shares in the last quarter. Grant GrossMendelsohn LLC bought a new stake in shares of Unisys during the first quarter worth about $60,000. Finally, Virtu Financial LLC increased its position in shares of Unisys by 18.6% during the first quarter. Virtu Financial LLC now owns 14,226 shares of the information technology services provider's stock worth $65,000 after acquiring an additional 2,230 shares in the last quarter. 86.87% of the stock is owned by institutional investors.

Unisys Stock Up 1.8%

Unisys stock traded up $0.07 during midday trading on Friday, hitting $3.96. 1,498,250 shares of the stock were exchanged, compared to its average volume of 828,293. Unisys Corporation has a 52-week low of $3.56 and a 52-week high of $8.93. The stock has a market capitalization of $282.31 million, a price-to-earnings ratio of -3.36, a price-to-earnings-growth ratio of 0.54 and a beta of 1.31. The business's 50-day moving average price is $4.27 and its 200-day moving average price is $4.61.

Unisys (NYSE:UIS - Get Free Report) last released its earnings results on Wednesday, July 30th. The information technology services provider reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of ($0.34) by $0.53. The firm had revenue of $483.30 million for the quarter, compared to analysts' expectations 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 company earned $0.16 earnings per share. On average, sell-side analysts predict that Unisys Corporation will post 0.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on UIS. Maxim Group upgraded shares of Unisys from a "hold" rating to a "buy" rating and set a $9.00 price target on the stock in a report on Monday, August 4th. Wall Street Zen cut shares of Unisys from a "buy" rating to a "hold" rating in a report on Saturday.

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.