Louisiana State Employees Retirement System Purchases Shares of 56,600 Xerox Holdings Co. (NYSE:XRX)

Louisiana State Employees Retirement System purchased a new stake in shares of Xerox Holdings Co. (NYSE:XRX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 56,600 shares of the information technology services provider’s stock, valued at approximately $1,037,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Xerox by 10.2% in the 3rd quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock worth $247,765,000 after acquiring an additional 1,464,851 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Xerox by 43.0% in the 3rd quarter. AQR Capital Management LLC now owns 1,766,610 shares of the information technology services provider’s stock worth $27,718,000 after acquiring an additional 531,173 shares in the last quarter. Invesco Ltd. grew its stake in shares of Xerox by 65.2% in the 3rd quarter. Invesco Ltd. now owns 1,281,942 shares of the information technology services provider’s stock worth $20,114,000 after acquiring an additional 506,117 shares in the last quarter. Brandywine Global Investment Management LLC bought a new stake in shares of Xerox in the 3rd quarter worth $7,495,000. Finally, American Century Companies Inc. grew its stake in shares of Xerox by 520.9% in the 3rd quarter. American Century Companies Inc. now owns 378,129 shares of the information technology services provider’s stock worth $5,933,000 after acquiring an additional 317,233 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Xerox Price Performance

XRX opened at $14.38 on Thursday. The firm has a market cap of $1.79 billion, a P/E ratio of -71.90 and a beta of 1.56. The firm has a 50-day moving average of $17.42 and a 200 day moving average of $16.30. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.91 and a current ratio of 1.14. Xerox Holdings Co. has a fifty-two week low of $12.06 and a fifty-two week high of $19.78.

Xerox (NYSE:XRX) last issued its earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.53 billion. Xerox had a return on equity of 9.41% and a net margin of 0.01%. Xerox’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 EPS. On average, research analysts expect that Xerox Holdings Co. will post 2.31 EPS for the current year.

Xerox Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.95%. Xerox’s dividend payout ratio (DPR) is currently -500.00%.

Wall Street Analyst Weigh In

XRX has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday. StockNews.com lowered shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday.

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.