Unisys Corporation $UIS Shares Sold by Renaissance Technologies LLC

Key Points

• Renaissance Technologies cut its Unisys stake by 31% in the first quarter, selling 410,333 shares and retaining 912,900 shares valued at approximately $1.89 million. Institutional investors and hedge funds collectively own 86.87% of UIS.
• Unisys shares opened at $2.81, compared with a 12-month range of $1.97 to $4.98. The company reported a quarterly loss of $0.08 per share, missing estimates, although revenue of $473.5 million exceeded analyst expectations.
• Analyst sentiment is mixed, with two Buy, two Hold and one Sell rating; the consensus rating is Hold with a $4.50 price target. Needham lowered its target to $5.00, while an Unisys director separately sold 20,000 shares.

Renaissance Technologies LLC lowered its position in shares of Unisys Corporation (NYSE:UIS - Free Report) by 31.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 912,900 shares of the information technology services provider's stock after selling 410,333 shares during the period. Renaissance Technologies LLC owned approximately 1.25% of Unisys worth $1,890,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers purchased a new position in shares of Unisys in the first quarter valued at $26,000. Abel Hall LLC purchased a new stake in Unisys during the 1st quarter worth $27,000. Quarry LP lifted its holdings in Unisys by 445.7% in the 4th quarter. Quarry LP now owns 10,205 shares of the information technology services provider's stock worth $28,000 after buying an additional 8,335 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in Unisys in the 3rd quarter worth $30,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Unisys by 100,000.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 10,010 shares of the information technology services provider's stock valued at $39,000 after buying an additional 10,000 shares during the last quarter. 86.87% of the stock is owned by institutional investors and hedge funds.

Unisys Price Performance

UIS opened at $2.81 on Wednesday. Unisys Corporation has a 12-month low of $1.97 and a 12-month high of $4.98. The stock has a market capitalization of $204.54 million, a PE ratio of -0.48, a P/E/G ratio of 0.34 and a beta of 1.90. The firm's fifty day moving average price is $3.57 and its 200 day moving average price is $2.93.

Unisys (NYSE:UIS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The information technology services provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The company had revenue of $473.50 million for the quarter, compared to analyst estimates of $448.92 million. Unisys had a negative return on equity of 14.09% and a negative net margin of 21.65%. On average, equities research analysts forecast that Unisys Corporation will post 0.57 earnings per share for the current fiscal year.

Insider Activity at Unisys

In other news, Director Philippe Germond sold 20,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $4.15, for a total transaction of $83,000.00. Following the transaction, the director owned 236,453 shares of the company's stock, valued at approximately $981,279.95. This trade represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 11.56% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on UIS. Needham & Company LLC lowered their target price on Unisys from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Zacks Research cut Unisys from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Unisys in a report on Friday, July 17th. Finally, Wall Street Zen lowered Unisys from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $4.50.

About Unisys

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.

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