Xerox Holdings Co. (NYSE:XRX) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its stake in Xerox Holdings Co. (NYSE:XRX) by 58.6% in the 4th quarter, Holdings Channel reports. The firm owned 10,328 shares of the information technology services provider’s stock after selling 14,641 shares during the quarter. Mackenzie Financial Corp’s holdings in Xerox were worth $189,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position 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 period. AQR Capital Management LLC boosted its position in Xerox by 43.0% during the third quarter. AQR Capital Management LLC now owns 1,766,610 shares of the information technology services provider’s stock worth $27,718,000 after purchasing an additional 531,173 shares in the last quarter. Invesco Ltd. grew its holdings in Xerox by 65.2% in the third quarter. Invesco Ltd. now owns 1,281,942 shares of the information technology services provider’s stock valued at $20,114,000 after purchasing an additional 506,117 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new position in shares of Xerox in the third quarter valued at $7,495,000. Finally, American Century Companies Inc. raised its stake in shares of Xerox by 520.9% during 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 buying an additional 317,233 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Stock Performance

NYSE XRX opened at $13.86 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.37 and a debt-to-equity ratio of 1.34. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -8.83 and a beta of 1.56. Xerox Holdings Co. has a fifty-two week low of $12.06 and a fifty-two week high of $19.78. The business has a fifty day moving average of $17.14 and a 200-day moving average of $16.29.

Xerox (NYSE:XRX) last announced its earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.29). Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the firm posted $0.49 EPS. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, analysts predict that Xerox Holdings Co. will post 2.16 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 7.22%. Xerox’s dividend payout ratio (DPR) is currently -63.69%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 24th. StockNews.com lowered shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th.

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.