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Unisys Corporation (UIS) stock has reached a new 52-week high, climbing to $8.49, marking a significant milestone for the $587.5 million technology company. According to InvestingPro analysis, the company appears slightly undervalued based on its Fair Value model. This peak reflects a robust year-over-year growth, with Unisys Corp (NYSE:UIS) witnessing an impressive 68.7% increase in its stock value over the past year. The momentum has been particularly strong in recent months, with the stock surging nearly 99% over the past six months. InvestingPro data shows the company maintains a "Fair" overall financial health score, with particularly strong price momentum metrics. InvestingPro subscribers have access to 8 additional key insights about UIS, along with comprehensive analysis in the Pro Research Report, which provides deep-dive analysis of what really matters for informed investment decisions.
In other recent news, Unisys Corporation has been making significant strides in its operations. The company reported a 7% increase in third-quarter revenue, totaling $497 million, largely due to a 57% surge in its License and Support (L&S) revenue. Unisys has also raised its full-year non-GAAP operating margin guidance and improved its free cash flow outlook, citing strong performance in new business signings and advancements in its AI project initiatives.
In addition to this, Unisys has partnered with the Los Angeles Department of Building and Safety (LADBS) and Clariti to modernize LADBS's operations. The partnership aims to create an innovative city-wide system that simplifies and accelerates permitting and licensing processes. The new system will replace the department's legacy system with Clariti's all-in-one permitting platform, facilitating a fully digital process from application to completion.
Furthermore, Unisys has maintained its 2024 financial guidance, with total revenue growth expected to be between negative 1.5% and positive 1.5% in constant currency. The company anticipates around $20 million in restructuring charges in Q4, and the full-year free cash flow expectation increased from $10 million to approximately $30 million. These are the latest developments in the company's performance and outlook.
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