Unisys (NYSE:UIS) Shares Cross Below 50 Day Moving Average - Here's Why

Key Points

• Unisys shares fell below their 50-day moving average of $2.43, reaching $2.35 and last trading at $2.365; the stock was down 4.6%.
• Analyst views are divided, with two Buy and two Sell ratings; MarketBeat reports a consensus Hold rating and a $5.00 price target. Recent calls included a downgrade to Strong Sell and a reduced target from Needham.
• Unisys’s chief accounting officer sold 10,553 shares for about $26,805, reducing his holdings by 9.25%; insiders collectively own 11.56% of the stock.

Unisys Corporation (NYSE:UIS - Get Free Report) passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $2.43 and traded as low as $2.35. Unisys shares last traded at $2.3650, with a volume of 1,339,085 shares changing hands.

Analysts Set New Price Targets

UIS has been the subject of a number of recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Unisys in a research note on Thursday, October 15th. Zacks Research cut shares of Unisys from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 15th. Finally, Needham & Company LLC decreased their target price on shares of Unisys from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $5.00.

Unisys Stock Down 4.6%

The stock has a fifty day simple moving average of $2.43 and a 200 day simple moving average of $2.80. The firm has a market capitalization of $172.46 million, a P/E ratio of -0.40, a PEG ratio of 0.37 and a beta of 1.98.

Insider Transactions at Unisys

In related news, CAO David Brown sold 10,553 shares of the business's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $2.54, for a total value of $26,804.62. Following the sale, the chief accounting officer owned 103,558 shares in the company, valued at approximately $263,037.32. The trade was a 9.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 11.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers purchased a new position in shares of Unisys during the first quarter worth approximately $26,000. Abel Hall LLC bought a new position in Unisys in the first quarter worth approximately $27,000. Royal Bank of Canada grew its stake in Unisys by 487.1% in the first quarter. Royal Bank of Canada now owns 14,032 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 11,642 shares in the last quarter. WINTON GROUP Ltd bought a new position in Unisys in the second quarter worth approximately $48,000. Finally, Waverly Advisors LLC increased its holdings in Unisys by 161.6% during the 2nd quarter. Waverly Advisors LLC now owns 28,474 shares of the information technology services provider's stock worth $104,000 after purchasing an additional 17,588 shares during the period. 86.87% of the stock is owned by hedge funds and other institutional investors.

About Unisys

Unisys Corporation NYSE: UIS is a global information technology services and solutions company that helps organizations modernize and manage their technology environments. Its offerings include cloud services, infrastructure modernization, cybersecurity, digital workplace solutions, application services and business process services.

The company serves commercial businesses, governments and other public-sector organizations across North America, Europe, the Asia-Pacific region and Latin America.

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