Allspring Global Investments Holdings LLC Decreases Stake in Xerox Holdings Co. (NYSE:XRX)

Allspring Global Investments Holdings LLC reduced its position in Xerox Holdings Co. (NYSE:XRXGet Rating) by 94.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 23,592 shares of the information technology services provider’s stock after selling 392,418 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Xerox were worth $308,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Truist Financial Corp lifted its position in shares of Xerox by 2.7% in the second quarter. Truist Financial Corp now owns 37,098 shares of the information technology services provider’s stock worth $551,000 after buying an additional 973 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Xerox by 1.8% in the second quarter. Yousif Capital Management LLC now owns 78,411 shares of the information technology services provider’s stock worth $1,164,000 after buying an additional 1,360 shares in the last quarter. Captrust Financial Advisors raised its position in Xerox by 34.7% during the first quarter. Captrust Financial Advisors now owns 5,521 shares of the information technology services provider’s stock valued at $113,000 after purchasing an additional 1,422 shares during the period. ARK Investment Management LLC raised its position in Xerox by 10.8% during the third quarter. ARK Investment Management LLC now owns 16,080 shares of the information technology services provider’s stock valued at $210,000 after purchasing an additional 1,571 shares during the period. Finally, US Bancorp DE raised its position in Xerox by 24.4% during the first quarter. US Bancorp DE now owns 8,232 shares of the information technology services provider’s stock valued at $167,000 after purchasing an additional 1,615 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Xerox Trading Up 1.3 %

XRX opened at $17.28 on Wednesday. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -2.51 and a beta of 1.72. The stock’s 50 day moving average price is $15.74 and its 200-day moving average price is $15.77. Xerox Holdings Co. has a one year low of $11.80 and a one year high of $23.25. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.93 and a current ratio of 1.17.

Xerox (NYSE:XRXGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The information technology services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.18). Xerox had a positive return on equity of 2.66% and a negative net margin of 16.10%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company earned $0.48 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities analysts forecast that Xerox Holdings Co. will post 0.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on XRX shares. Citigroup decreased 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 started coverage on Xerox in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Credit Suisse Group decreased their price objective on Xerox from $14.00 to $13.00 and set an “underperform” rating on the stock in a research report on Tuesday, October 18th. Finally, Morgan Stanley cut their target price on Xerox from $14.00 to $11.00 and set an “underweight” rating on the stock in a research note on Monday, October 17th. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $12.00.

Insider Buying and Selling

In other news, Director Hernandez Margarita Palau acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 29th. The shares were bought at an average price of $15.55 per share, with a total value of $155,500.00. Following the completion of the purchase, the director now directly owns 15,500 shares in the company, valued at $241,025. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Xerox 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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