Xerox Holdings Co. (NYSE:XRX) Shares Acquired by Royce & Associates LP

Royce & Associates LP boosted its position in Xerox Holdings Co. (NYSE:XRX) by 16.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 742,189 shares of the information technology services provider’s stock after purchasing an additional 107,127 shares during the quarter. Royce & Associates LP’s holdings in Xerox were worth $7,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Capital Management LLC purchased a new position in shares of Xerox during the first quarter valued at approximately $8,466,000. AQR Capital Management LLC boosted its holdings in shares of Xerox by 75.2% during the second quarter. AQR Capital Management LLC now owns 179,118 shares of the information technology services provider’s stock worth $2,081,000 after purchasing an additional 76,886 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Xerox in the first quarter valued at $4,066,000. Sound Income Strategies LLC lifted its position in Xerox by 27.9% during the third quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after buying an additional 225,617 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Xerox by 1,960.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 163,163 shares of the information technology services provider’s stock worth $1,694,000 after buying an additional 155,244 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. 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 research note on Wednesday, August 14th. StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Morgan Stanley lowered their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $9.50.

Xerox Stock Performance

NYSE:XRX opened at $8.43 on Monday. Xerox Holdings Co. has a twelve month low of $8.02 and a twelve month high of $19.78. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -0.76 and a beta of 1.59. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11. The firm’s fifty day simple moving average is $9.82 and its 200 day simple moving average is $11.31.

Xerox (NYSE:XRX) last issued its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.26). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. Xerox’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS. As a group, equities research analysts expect that Xerox Holdings Co. will post 1.38 earnings per share for the current fiscal year.

Xerox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.86%. Xerox’s payout ratio is currently -9.06%.

Xerox Company 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.