Unisys (NYSE:UIS) Stock Passes Above 200 Day Moving Average – Here’s Why

Unisys Co. (NYSE:UIS)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.93 and traded as high as $6.43. Unisys shares last traded at $6.27, with a volume of 338,148 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Unisys from a “hold” rating to a “buy” rating in a report on Saturday, December 28th.

Unisys Stock Down 3.1 %

The company has a market cap of $434.91 million, a P/E ratio of -1.11, a PEG ratio of 1.52 and a beta of 0.79. The business has a fifty day moving average price of $7.29 and a 200-day moving average price of $5.96.

Unisys (NYSE:UIS) last released its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Unisys had a negative net margin of 19.24% and a negative return on equity of 27.42%. The business had revenue of $497.00 million during the quarter, compared to analyst estimates of $486.50 million. During the same quarter in the previous year, the firm posted ($0.33) earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts expect that Unisys Co. will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On Unisys

Hedge funds and other institutional investors have recently made changes to their positions in the business. Needham Investment Management LLC raised its position in Unisys by 7.9% during the third quarter. Needham Investment Management LLC now owns 5,250,000 shares of the information technology services provider’s stock valued at $29,820,000 after purchasing an additional 385,000 shares in the last quarter. 272 Capital LP acquired a new position in Unisys during the third quarter valued at approximately $1,832,000. Bank of Montreal Can raised its position in Unisys by 738.6% during the second quarter. Bank of Montreal Can now owns 287,376 shares of the information technology services provider’s stock valued at $1,187,000 after purchasing an additional 253,108 shares in the last quarter. State Street Corp raised its position in Unisys by 13.2% during the third quarter. State Street Corp now owns 1,612,970 shares of the information technology services provider’s stock valued at $9,162,000 after purchasing an additional 188,630 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in Unisys by 13.8% during the second quarter. Federated Hermes Inc. now owns 1,334,155 shares of the information technology services provider’s stock valued at $5,510,000 after purchasing an additional 162,177 shares in the last quarter. 86.87% of the stock is currently owned by institutional investors and hedge funds.

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.