Raymond James & Associates Lowers Stock Position in Xerox Holdings Co. (NYSE:XRX)

Raymond James & Associates lowered its position in shares of Xerox Holdings Co. (NYSE:XRX) by 27.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 35,278 shares of the information technology services provider’s stock after selling 13,233 shares during the period. Raymond James & Associates’ holdings in Xerox were worth $647,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of XRX. SG Americas Securities LLC raised its position in shares of Xerox by 65.0% in the 3rd quarter. SG Americas Securities LLC now owns 76,258 shares of the information technology services provider’s stock worth $1,196,000 after purchasing an additional 30,045 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Xerox by 402.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 70,433 shares of the information technology services provider’s stock worth $1,105,000 after purchasing an additional 56,427 shares during the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of Xerox in the 3rd quarter worth about $818,000. Hexagon Capital Partners LLC raised its position in shares of Xerox by 87.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,627 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 758 shares during the last quarter. Finally, Maryland State Retirement & Pension System purchased a new position in shares of Xerox in the 3rd quarter worth about $654,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Trading Down 2.6 %

Xerox stock opened at $14.38 on Thursday. The business has a 50-day simple moving average of $17.42 and a two-hundred day simple moving average of $16.30. The company has a market cap of $1.79 billion, a P/E ratio of -71.90 and a beta of 1.56. Xerox Holdings Co. has a 52-week low of $12.06 and a 52-week high of $19.78. The company has a quick ratio of 0.91, a current ratio of 1.14 and a debt-to-equity ratio of 1.06.

Xerox (NYSE:XRX) last released its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.53 billion. Xerox had a net margin of 0.01% and a return on equity of 9.41%. The company’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 firm earned $0.49 earnings per share. Analysts predict that Xerox Holdings Co. will post 2.31 EPS for the current year.

Xerox Dividend Announcement

The business 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 dividend of $0.25 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.95%. Xerox’s payout ratio is currently -500.00%.

Analyst Upgrades and Downgrades

Several research firms recently commented on XRX. JPMorgan Chase & Co. reduced their price objective on Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Wednesday. StockNews.com downgraded Xerox from a “buy” rating to a “hold” rating in a report on Wednesday.

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.