Canaccord Genuity Group Issues Pessimistic Forecast for Unisys (NYSE:UIS) Stock Price

Unisys (NYSE:UIS) had its price target dropped by research analysts at Canaccord Genuity Group from $7.00 to $6.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the information technology services provider’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 38.74% from the stock’s current price.

Separately, StockNews.com raised shares of Unisys from a “hold” rating to a “buy” rating in a report on Thursday, February 13th.

Unisys Stock Down 8.0 %

UIS stock opened at $4.69 on Thursday. Unisys has a 12 month low of $3.32 and a 12 month high of $8.93. The firm has a market cap of $324.95 million, a P/E ratio of -1.66, a P/E/G ratio of 0.65 and a beta of 0.78. The company’s 50-day moving average price is $6.57 and its two-hundred day moving average price is $6.38.

Unisys (NYSE:UIS) last released its earnings results on Tuesday, February 18th. The information technology services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. Unisys had a negative net margin of 9.63% and a negative return on equity of 16.84%. The firm had revenue of $545.40 million for the quarter, compared to analyst estimates of $550.93 million. During the same period last year, the firm earned $0.51 EPS. Equities analysts predict that Unisys will post 0.61 EPS for the current year.

Institutional Investors Weigh In On Unisys

Several hedge funds and other institutional investors have recently made changes to their positions in UIS. Virtus Fund Advisers LLC bought a new stake in shares of Unisys during the 4th quarter valued at approximately $35,000. AlphaQuest LLC bought a new stake in shares of Unisys during the 4th quarter valued at approximately $39,000. Quarry LP grew its holdings in Unisys by 985.8% during the 4th 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 during the last quarter. Creative Planning bought a new stake in Unisys during the 3rd quarter worth approximately $58,000. Finally, Paloma Partners Management Co bought a new stake in Unisys during the 3rd quarter worth approximately $60,000. 86.87% of the stock is owned by institutional investors.

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.