O Shaughnessy Asset Management LLC Increases Holdings in Xerox Holdings Co. (NYSE:XRX)

O Shaughnessy Asset Management LLC boosted its holdings in shares of Xerox Holdings Co. (NYSE:XRXGet Rating) by 134.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,771 shares of the information technology services provider’s stock after purchasing an additional 43,993 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Xerox were worth $1,140,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SeaCrest Wealth Management LLC purchased a new position in Xerox during the 2nd quarter valued at about $31,000. Captrust Financial Advisors boosted its position in Xerox by 34.7% during the 1st quarter. Captrust Financial Advisors now owns 5,521 shares of the information technology services provider’s stock valued at $113,000 after acquiring an additional 1,422 shares in the last quarter. Covestor Ltd boosted its position in Xerox by 36.3% during the 1st quarter. Covestor Ltd now owns 6,575 shares of the information technology services provider’s stock valued at $133,000 after acquiring an additional 1,751 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Xerox during the 2nd quarter valued at approximately $101,000. Finally, US Bancorp DE boosted its position in Xerox by 24.4% during the 1st quarter. US Bancorp DE now owns 8,232 shares of the information technology services provider’s stock valued at $167,000 after acquiring an additional 1,615 shares in the last quarter. Hedge funds and other institutional investors own 94.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on XRX shares. Morgan Stanley cut their price objective on Xerox from $14.00 to $11.00 and set an “underweight” rating on the stock in a research report on Monday, October 17th. Citigroup cut their price objective on Xerox from $15.00 to $10.00 and set a “sell” rating on the stock in a research report on Wednesday, October 26th. StockNews.com initiated coverage on Xerox in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Credit Suisse Group dropped their price target on Xerox from $14.00 to $13.00 and set an “underperform” rating on the stock in a research report on Tuesday, October 18th. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. According to MarketBeat.com, Xerox presently has an average rating of “Reduce” and an average target price of $12.00.

Xerox Stock Performance

Shares of XRX opened at $15.75 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average price is $14.83 and its 200-day moving average price is $16.09. Xerox Holdings Co. has a 52 week low of $11.80 and a 52 week high of $24.14. The stock has a market cap of $2.45 billion, a P/E ratio of 29.17 and a beta of 1.71.

Xerox (NYSE:XRXGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The information technology services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). Xerox had a positive return on equity of 2.66% and a negative net margin of 16.10%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the firm earned $0.48 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts anticipate that Xerox Holdings Co. will post 0.75 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Saturday, December 31st will be issued a $0.25 dividend. The ex-dividend date is Thursday, December 29th. This represents a $1.00 dividend on an annualized basis and a yield of 6.35%. Xerox’s payout ratio is currently -14.53%.

Xerox Company Profile

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Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.

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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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