Federated Hermes Inc. Has $3.53 Million Holdings in Xerox Holdings Co. (NYSE:XRX)

Federated Hermes Inc. raised its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 1.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 192,500 shares of the information technology services provider’s stock after purchasing an additional 3,202 shares during the period. Federated Hermes Inc. owned approximately 0.16% of Xerox worth $3,529,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in XRX. Everence Capital Management Inc. purchased a new position in shares of Xerox during the fourth quarter valued at approximately $277,000. Louisiana State Employees Retirement System bought a new stake in shares of Xerox in the 4th quarter worth $1,037,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Xerox by 74.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 14,902 shares of the information technology services provider’s stock valued at $273,000 after purchasing an additional 6,369 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Xerox by 49.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 48,257 shares of the information technology services provider’s stock valued at $885,000 after purchasing an additional 15,920 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Xerox by 1,733.2% during the fourth quarter. International Assets Investment Management LLC now owns 4,583 shares of the information technology services provider’s stock worth $84,000 after purchasing an additional 4,333 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on XRX. JPMorgan Chase & Co. dropped their target price on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday. StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a report on Wednesday.

Xerox Stock Performance

NYSE XRX opened at $14.00 on Friday. The company has a market capitalization of $1.74 billion, a PE ratio of 10.20 and a beta of 1.56. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 1.37. Xerox Holdings Co. has a 52-week low of $12.06 and a 52-week high of $19.78. The company has a 50-day simple moving average of $17.23 and a 200 day simple moving average of $16.28.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.29). Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the business earned $0.49 EPS. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, research analysts predict that Xerox Holdings Co. will post 2.21 EPS for the current year.

Xerox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 7.14%. Xerox’s payout ratio is -63.69%.

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.