Canaccord Genuity Group Lowers Unisys (NYSE:UIS) Price Target to $6.50

Unisys (NYSE:UIS - Free Report) had its target price reduced by Canaccord Genuity Group from $7.00 to $6.50 in a research report released on Thursday,Benzinga reports. They currently have a hold rating on the information technology services provider's stock.

Separately, StockNews.com upgraded shares of Unisys from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th.

Unisys Trading Down 4.6 %

NYSE:UIS traded down $0.22 during mid-day trading on Thursday, hitting $4.49. The stock had a trading volume of 686,698 shares, compared to its average volume of 459,544. The company has a 50 day simple moving average of $6.57 and a 200-day simple moving average of $6.42. The stock has a market capitalization of $311.09 million, a price-to-earnings ratio of -1.58, a P/E/G ratio of 0.56 and a beta of 0.78. Unisys has a 52 week low of $3.32 and a 52 week high of $8.93.

Unisys (NYSE:UIS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The information technology services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. Unisys had a negative return on equity of 16.84% and a negative net margin of 9.63%. The company had revenue of $545.40 million for the quarter, compared to analysts' expectations of $550.93 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. As a group, equities research analysts anticipate that Unisys will post 0.61 earnings per share for the current year.

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Institutional Trading of Unisys

Several hedge funds and other institutional investors have recently modified their holdings of UIS. SG Americas Securities LLC grew its stake in shares of Unisys by 91.2% in the third quarter. SG Americas Securities LLC now owns 22,854 shares of the information technology services provider's stock valued at $130,000 after buying an additional 10,900 shares in the last quarter. Creative Planning acquired a new stake in shares of Unisys in the third quarter valued at approximately $58,000. Hennion & Walsh Asset Management Inc. grew its position in Unisys by 62.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 46,084 shares of the information technology services provider's stock worth $262,000 after buying an additional 17,744 shares in the last quarter. GSA Capital Partners LLP increased its stake in Unisys by 67.2% during the 3rd quarter. GSA Capital Partners LLP now owns 365,589 shares of the information technology services provider's stock worth $2,077,000 after acquiring an additional 146,899 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new stake in Unisys during the third quarter worth about $296,000. 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.