Needham & Company LLC Begins Coverage on Unisys (NYSE:UIS)

Key Points

• Needham & Company LLC has initiated coverage on Unisys (NYSE:UIS) with a buy rating and a price target of $6.00, indicating a potential upside of 56.45% from its previous close.
• Unisys recently reported earnings of $0.19 EPS for the quarter, surpassing the consensus estimate of ($0.34) by $0.53, with a revenue of $483.30 million.
• Institutional investors hold a significant portion of the company, with 86.87% of Unisys stock owned by hedge funds and other institutional investors.

Needham & Company LLC initiated coverage on shares of Unisys (NYSE:UIS - Get Free Report) in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $6.00 price target on the information technology services provider's stock. Needham & Company LLC's price objective indicates a potential upside of 54.84% from the stock's previous close.

UIS has been the topic of several other research reports. Wall Street Zen upgraded shares of Unisys from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Maxim Group upgraded shares of Unisys from a "hold" rating to a "buy" rating and set a $9.00 price objective on the stock in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $7.17.

Unisys Price Performance

Shares of Unisys stock traded up $0.06 during midday trading on Wednesday, hitting $3.88. The company had a trading volume of 445,127 shares, compared to its average volume of 836,893. The business's 50 day simple moving average is $4.10 and its two-hundred day simple moving average is $4.31. The stock has a market cap of $276.25 million, a PE ratio of -3.28, a P/E/G ratio of 0.53 and a beta of 1.35. Unisys has a 1-year low of $3.56 and a 1-year high of $8.93.

Unisys (NYSE:UIS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The information technology services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.53. The business had revenue of $483.30 million for the quarter, compared to the consensus estimate 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 quarter last year, the company posted $0.16 earnings per share. Unisys has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Unisys will post 0.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Unisys

A number of institutional investors have recently bought and sold shares of UIS. AQR Capital Management LLC boosted its stake in Unisys by 232.5% during the first quarter. AQR Capital Management LLC now owns 1,227,724 shares of the information technology services provider's stock worth $5,635,000 after buying an additional 858,516 shares in the last quarter. Whetstone Capital Advisors LLC acquired a new stake in shares of Unisys in the 1st quarter valued at $2,836,000. JPMorgan Chase & Co. boosted its stake in shares of Unisys by 18.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,714,693 shares of the information technology services provider's stock valued at $7,768,000 after purchasing an additional 272,627 shares in the last quarter. Palisade Capital Management LP boosted its stake in shares of Unisys by 17.4% in the 2nd quarter. Palisade Capital Management LP now owns 1,758,525 shares of the information technology services provider's stock valued at $7,966,000 after purchasing an additional 260,716 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Unisys by 15.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,817,608 shares of the information technology services provider's stock valued at $8,337,000 after purchasing an additional 246,660 shares in the last quarter. Institutional investors and hedge funds own 86.87% of the company's stock.

About Unisys

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.