New York State Teachers Retirement System Cuts Stake in Xerox Holdings Co. (NYSE:XRX)

New York State Teachers Retirement System trimmed its position in shares of Xerox Holdings Co. (NYSE:XRX) by 24.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 130,939 shares of the information technology services provider’s stock after selling 43,451 shares during the period. New York State Teachers Retirement System’s holdings in Xerox were worth $2,400,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Xerox by 10.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock valued at $247,765,000 after acquiring an additional 1,464,851 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Xerox by 15.1% during the 1st quarter. BlackRock Inc. now owns 15,540,136 shares of the information technology services provider’s stock valued at $239,318,000 after acquiring an additional 2,033,262 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Xerox by 4.5% during the 3rd quarter. LSV Asset Management now owns 6,240,257 shares of the information technology services provider’s stock valued at $97,910,000 after acquiring an additional 271,302 shares during the last quarter. State Street Corp boosted its holdings in shares of Xerox by 1.1% during the 1st quarter. State Street Corp now owns 4,790,757 shares of the information technology services provider’s stock valued at $74,965,000 after acquiring an additional 52,043 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Xerox by 5.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,435,033 shares of the information technology services provider’s stock valued at $36,258,000 after acquiring an additional 133,551 shares during the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. raised their price objective on shares of Xerox from $16.00 to $18.00 and gave the stock an “underweight” rating in a report on Friday, January 26th.

Xerox Stock Performance

XRX opened at $16.37 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.91 and a debt-to-equity ratio of 1.06. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -81.85 and a beta of 1.56. The company’s 50 day moving average is $17.78 and its 200 day moving average is $16.29. Xerox Holdings Co. has a 12-month low of $12.06 and a 12-month high of $19.78.

Xerox (NYSE:XRX) last released its earnings results on Thursday, January 25th. The information technology services provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.09). Xerox had a return on equity of 9.41% and a net margin of 0.01%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the previous year, the business posted $0.89 EPS. Xerox’s revenue was down 8.8% on a year-over-year basis. On average, equities research analysts predict that Xerox Holdings Co. will post 2.27 EPS for the current year.

Xerox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date is Wednesday, March 27th. Xerox’s payout ratio is -500.00%.

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.