Gallacher Capital Management LLC Acquires New Holdings in Xerox Holdings Co. (NYSE:XRX)

Gallacher Capital Management LLC bought a new position in Xerox Holdings Co. (NYSE:XRX) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,432 shares of the information technology services provider’s stock, valued at approximately $330,000.

Several other hedge funds also recently modified their holdings of the business. Texas Permanent School Fund Corp boosted its position in Xerox by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 98,961 shares of the information technology services provider’s stock worth $1,771,000 after purchasing an additional 1,323 shares during the period. WBI Investments LLC bought a new stake in shares of Xerox during the 1st quarter worth $931,000. StoneX Group Inc. grew its stake in Xerox by 21.0% in the 1st quarter. StoneX Group Inc. now owns 35,149 shares of the information technology services provider’s stock valued at $638,000 after buying an additional 6,098 shares during the last quarter. Capstone Investment Advisors LLC raised its holdings in Xerox by 60.2% in the 1st quarter. Capstone Investment Advisors LLC now owns 24,741 shares of the information technology services provider’s stock worth $443,000 after acquiring an additional 9,298 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in Xerox by 36.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 36,721 shares of the information technology services provider’s stock worth $657,000 after acquiring an additional 9,896 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Price Performance

Shares of NYSE XRX remained flat at $10.83 during mid-day trading on Friday. 550,109 shares of the company traded hands, compared to its average volume of 2,177,161. Xerox Holdings Co. has a twelve month low of $10.28 and a twelve month high of $19.78. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -6.90 and a beta of 1.58. The firm’s 50 day moving average price is $13.20 and its 200-day moving average price is $15.83. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.07 and a current ratio of 1.37.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Tuesday, April 23rd. The information technology services provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.53 billion. Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. Xerox’s revenue was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 EPS. As a group, sell-side analysts predict that Xerox Holdings Co. will post 2.05 EPS for the current year.

Xerox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.23%. The ex-dividend date of this dividend is Friday, June 28th. Xerox’s dividend payout ratio is -63.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on XRX shares. Citigroup assumed coverage on Xerox in a research report on Friday, June 28th. They issued a “sell” rating and a $11.00 price target on the stock. StockNews.com downgraded Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Wednesday, April 24th.

About Xerox

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.