Unisys Corp. (NYSE:UIS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $11.00 target price on the stock. Zacks Investment Research’s price objective indicates a potential upside of 10.00% from the company’s current price.

According to Zacks, “Unisys reported striking second-quarter 2016 results, with earnings beating the Zacks Consensus Estimate by over 200%. Earnings estimates have remained steady over the last week. Unisys is aligning its services and solution portfolio by shifting its offerings to cloud-based and software-as-a-service delivery models. The company is focusing on business opportunities in fewer, more profitable sectors in the IT marketplace. Unisys also intends to build specialized industry skills and resources required to win industry-specific projects for higher growth prospects. The company expects restructuring efforts to generate approximately $200 million in annualized savings by the end of 2016. However, uncertainty in currency markets might have an adverse impact on revenues if there is any unfavorable movement in the currency market, particularly in euro. Continued pension obligations are likely to be an additional drag on its earnings in the future.”

Separately, SunTrust Banks Inc. assumed coverage on shares of Unisys Corp. in a research report on Tuesday, June 21st. They set a “buy” rating and a $11.00 target price for the company.

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Unisys Corp. (NYSE:UIS) traded up 1.50% during mid-day trading on Tuesday, hitting $10.15. 516,097 shares of the company were exchanged. The stock’s market cap is $508.32 million. The company has a 50 day moving average of $9.72 and a 200 day moving average of $8.58. Unisys Corp. has a 12-month low of $6.72 and a 12-month high of $14.96.

Unisys Corp. (NYSE:UIS) last announced its earnings results on Tuesday, July 26th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $1.42. The business earned $748.90 million during the quarter, compared to analysts’ expectations of $683.83 million. Unisys Corp. had a negative net margin of 0.91% and a negative return on equity of 12.92%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the company posted $0.33 EPS. On average, equities research analysts expect that Unisys Corp. will post ($0.56) earnings per share for the current fiscal year.

In other Unisys Corp. news, Director Nathaniel A. Davis sold 38,200 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $10.43, for a total transaction of $398,426.00. Following the sale, the director now owns 3,654 shares of the company’s stock, valued at approximately $38,111.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

A number of large investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its stake in shares of Unisys Corp. by 113.8% in the second quarter. BNP Paribas Arbitrage SA now owns 14,472 shares of the company’s stock worth $105,000 after buying an additional 7,704 shares in the last quarter. Boothbay Fund Management LLC raised its stake in shares of Unisys Corp. by 87.7% in the first quarter. Boothbay Fund Management LLC now owns 26,939 shares of the company’s stock worth $207,000 after buying an additional 12,588 shares in the last quarter. Saba Capital Management L.P. bought a new stake in shares of Unisys Corp. during the first quarter worth approximately $1,413,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Unisys Corp. by 239.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 280,906 shares of the company’s stock worth $2,163,000 after buying an additional 198,144 shares in the last quarter. Finally, Pinnacle Holdings LLC raised its stake in shares of Unisys Corp. by 9.1% in the first quarter. Pinnacle Holdings LLC now owns 47,925 shares of the company’s stock worth $369,000 after buying an additional 4,010 shares in the last quarter.

About Unisys Corp.

Unisys Corporation is an information technology (IT) company. The Company operates through two segments. Its Services segment includes cloud and infrastructure services, application services and business process outsourcing services. In cloud and infrastructure services, it helps clients apply cloud and as-a-service delivery models to manage and secure their IT infrastructure and operations.

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