Edgestream Partners L.P. Acquires 129,616 Shares of Xerox Holdings Co. (NYSE:XRX)

Edgestream Partners L.P. raised its holdings in Xerox Holdings Co. (NYSE:XRX) by 51.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 381,508 shares of the information technology services provider’s stock after buying an additional 129,616 shares during the quarter. Edgestream Partners L.P.’s holdings in Xerox were worth $4,433,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. CWM LLC lifted its stake in Xerox by 155.5% in the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 1,378 shares during the period. EntryPoint Capital LLC bought a new position in Xerox in the 1st quarter worth $45,000. TFO Wealth Partners LLC lifted its position in shares of Xerox by 30,127.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock worth $61,000 after purchasing an additional 3,314 shares during the period. Plato Investment Management Ltd bought a new stake in shares of Xerox during the 1st quarter valued at about $115,000. Finally, nVerses Capital LLC purchased a new position in shares of Xerox during the second quarter valued at about $78,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on XRX shares. Loop Capital lowered their price objective on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Citigroup initiated coverage on Xerox in a research note on Friday, June 28th. They issued a “sell” rating and a $11.00 target price for the company. Finally, StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.75.

Xerox Price Performance

Shares of NYSE XRX opened at $10.38 on Wednesday. The company has a 50 day simple moving average of $10.69 and a two-hundred day simple moving average of $13.45. Xerox Holdings Co. has a fifty-two week low of $9.51 and a fifty-two week high of $19.78. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 8.53 and a beta of 1.57. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.49.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year. Analysts expect that Xerox Holdings Co. will post 1.79 EPS for the current fiscal year.

Xerox Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.63%. The ex-dividend date is Monday, September 30th. Xerox’s dividend payout ratio (DPR) is -63.69%.

Xerox Profile

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.