Public Sector Pension Investment Board Buys 19,611 Shares of Xerox Holdings Co. (NYSE:XRX)

Public Sector Pension Investment Board lifted its stake in Xerox Holdings Co. (NYSE:XRX) by 8.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,380 shares of the information technology services provider’s stock after purchasing an additional 19,611 shares during the quarter. Public Sector Pension Investment Board owned 0.20% of Xerox worth $2,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. CWM LLC grew its holdings in shares of Xerox by 155.5% during the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 1,378 shares during the last quarter. EntryPoint Capital LLC bought a new position in Xerox in the 1st quarter valued at approximately $45,000. TFO Wealth Partners LLC boosted its stake in Xerox by 30,127.3% during the 4th quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock valued at $61,000 after purchasing an additional 3,314 shares during the last quarter. Plato Investment Management Ltd purchased a new position in shares of Xerox in the first quarter worth $115,000. Finally, nVerses Capital LLC bought a new position in shares of Xerox during the second quarter valued at $78,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on XRX shares. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Citigroup began coverage on shares of Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 price objective on the stock. Finally, Loop Capital cut their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Xerox presently has a consensus rating of “Hold” and a consensus target price of $12.75.

Xerox Stock Performance

XRX opened at $10.58 on Friday. The company’s 50 day moving average is $10.53 and its 200 day moving average is $13.02. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -6.74 and a beta of 1.57. Xerox Holdings Co. has a 12-month low of $9.51 and a 12-month high of $19.78.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the firm earned $0.44 EPS. The company’s revenue was down 10.0% on a year-over-year basis. On average, equities research analysts predict that Xerox Holdings Co. will post 1.79 EPS for the current year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.45%. Xerox’s payout ratio is currently -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.