Royce & Associates LP Grows Stock Holdings in Xerox Holdings Co. (NYSE:XRX)

Royce & Associates LP grew its stake in Xerox Holdings Co. (NYSE:XRX) by 16.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 742,189 shares of the information technology services provider’s stock after purchasing an additional 107,127 shares during the period. Royce & Associates LP owned approximately 0.60% of Xerox worth $7,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWM LLC increased its stake in Xerox by 155.5% during the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after buying an additional 1,378 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Xerox in the 1st quarter valued at about $45,000. US Bancorp DE grew its position in shares of Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after buying an additional 1,888 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Xerox during the second quarter worth approximately $78,000. Finally, Plato Investment Management Ltd raised its holdings in Xerox by 45.0% in the second quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock valued at $109,000 after acquiring an additional 2,899 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley cut their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a report on Sunday. Loop Capital decreased their price target 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat, Xerox presently has a consensus rating of “Reduce” and a consensus price target of $9.50.

Xerox Stock Up 0.5 %

Shares of NYSE XRX opened at $8.43 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11. The firm has a 50-day moving average price of $9.82 and a 200 day moving average price of $11.31. Xerox Holdings Co. has a 52 week low of $8.02 and a 52 week high of $19.78. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -0.76 and a beta of 1.59.

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

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 11.86%. Xerox’s dividend payout ratio (DPR) is currently -9.06%.

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.