Neuberger Berman Slashes Unisys Stake to 42 Shares

TL;DR

**Neuberger Berman dumped almost all its Unisys shares, signaling a bearish institutional exit.**

AI Summary

Neuberger Berman Group LLC, a Delaware-based investment firm, filed an amended SC 13G/A on February 12, 2024, indicating a significant reduction in their beneficial ownership of Unisys Corp (NYSE: UIS) common stock. As of December 31, 2023, Neuberger Berman reported holding only 42 shares with shared voting power, a substantial decrease from previous filings. This matters to investors because it signals a major institutional investor has largely exited their position, potentially reflecting a bearish outlook on Unisys's future performance.

Why It Matters

This filing shows a major institutional investor has significantly reduced its holdings in Unisys, which could be interpreted as a lack of confidence in the company's future prospects.

Risk Assessment

Risk Level: medium — A large institutional investor significantly reducing its stake can indicate underlying concerns about the company's performance or future, increasing investment risk.

Analyst Insight

A smart investor would view Neuberger Berman's near-complete exit as a potential red flag and conduct deeper due diligence into Unisys's fundamentals and future prospects before making investment decisions.

Key Numbers

• 42 — Shares Beneficially Owned (Represents the total number of Unisys shares with shared voting power held by Neuberger Berman Group LLC as of December 31, 2023.)
• 0 — Sole Voting Power Shares (Indicates Neuberger Berman Group LLC holds no shares with sole voting power in Unisys Corp.)

Key Players & Entities

• Neuberger Berman Group LLC (company) — the reporting person who filed the SC 13G/A
• UNISYS CORP (company) — the subject company whose shares are being reported
• Delaware (company) — place of organization for Neuberger Berman Group LLC
• December 31, 2023 (date) — the date of the event which required the filing
• 42 (dollar_amount) — number of shares with shared voting power beneficially owned by Neuberger Berman Group LLC

Forward-Looking Statements

• Unisys Corp's stock price may face downward pressure due to the significant reduction in institutional ownership. (UNISYS CORP) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in Unisys following Neuberger Berman's substantial exit. (UNISYS CORP) — low confidence, target: Q2 2024

FAQ

Filing Documents

• formsc13ga-02122024_070202.htm (SC 13G/A) — 52KB
• 0001415889-24-003290.txt ( ) — 54KB

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Neuberger Berman Group LLC and its affiliates may be deemed to be beneficial owners of securities for purposes of Exchange Act Rule 13d-3 because they or certain affiliated persons have shared power to retain, dispose of or vote the securities of unrelated clients. Neuberger Berman Group LLC or its affiliated persons do not, however, have any economic interest in the securities of those clients. The clients have the sole right to receive and the power to direct the receipt of dividends from or proceeds from the sale of such securities. Other than named in this filing, no one client has an interest of more than 5% of the issuer. With regard to the shares set forth under item 4(c)(ii), Neuberger Berman Group LLC may be deemed to be the beneficial owner for purposes of Rule 13d-3 because certain affiliated persons have shared power to retain, dispose of and vote the securities. In addition to the holdings of individual advisory clients, Neuberger Berman Investment Advisers LLC serves as investment manager of Neuberger Berman Group LLC's various registered mutual funds which hold such shares. The holdings belonging to clients of Neuberger Berman Trust Co N.A., Neuberger Berman Trust Co of Delaware N.A., Neuberger Berman Asia Ltd., Neuberger Berman Canada ULC and Neuberger Berman Investment Advisers LLC are also aggregated to comprise the holdings referenced herein. In addition to the shares set forth under Item 4(c)(ii) for which Neuberger entities also have shared power to dispose of the shares, item 4(c)(iv) also includes shares from individual client accounts over which Neuberger Berman Investment Advisers LLC has shared power to dispose but does not have voting power over these shares. The holdings of Neuberger Berman Trust Co N.A., Neuberger Berman Trust Co of Delaware N.A., Neuberger Berman Asia Ltd., Neuberger Berman Canada ULC and Neuberger Berman Investment Advisers LLC, are also aggre

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. N/A

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. N/A

Certification

Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 12, 2024 Neuberger Berman Group LLC By: /s/ Brad Cetron Name: Brad Cetron Title: Managing Director Date: February 12, 2024 Neuberger Berman Investment Advisers LLC By: /s/ Brad Cetron Name: Brad Cetron Title: Managing Director

View Full Filing

View this SC 13G/A filing on SEC EDGAR