Algert Global LLC Makes New Investment in Xerox Holdings Co. (NYSE:XRX)

Algert Global LLC purchased a new position in Xerox Holdings Co. (NYSE:XRXFree Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,867 shares of the information technology services provider’s stock, valued at approximately $138,000.

Several other hedge funds have also bought and sold shares of the stock. SummerHaven Investment Management LLC raised its position in shares of Xerox by 2.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 47,430 shares of the information technology services provider’s stock valued at $551,000 after buying an additional 1,110 shares in the last quarter. Texas Permanent School Fund Corp raised its position in shares of Xerox by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 98,961 shares of the information technology services provider’s stock valued at $1,771,000 after buying an additional 1,323 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Xerox by 5.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 23,930 shares of the information technology services provider’s stock valued at $278,000 after buying an additional 1,327 shares in the last quarter. CWM LLC raised its position in shares of Xerox by 155.5% during the 2nd 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 in the last quarter. Finally, Covestor Ltd raised its position in shares of Xerox by 16.2% during the 1st quarter. Covestor Ltd now owns 10,512 shares of the information technology services provider’s stock valued at $188,000 after buying an additional 1,464 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Price Performance

Shares of XRX stock opened at $10.26 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.49 and a quick ratio of 1.13. The company has a market capitalization of $1.27 billion, a P/E ratio of -6.54 and a beta of 1.57. The company’s 50-day simple moving average is $10.37 and its two-hundred day simple moving average is $12.59. Xerox Holdings Co. has a one year low of $9.51 and a one year high of $19.78.

Xerox (NYSE:XRXGet Free Report) last issued its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. Xerox’s revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. As a group, equities analysts anticipate that Xerox Holdings Co. will post 1.79 EPS for the current year.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 9.75%. Xerox’s payout ratio is presently -63.69%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on XRX shares. Loop Capital cut their price target on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Finally, Citigroup started coverage on shares of Xerox in a report on Friday, June 28th. They set a “sell” rating and a $11.00 price target on the stock. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.75.

Check Out Our Latest Stock Analysis on Xerox

About Xerox

(Free Report)

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.

Read More

Want to see what other hedge funds are holding XRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Xerox Holdings Co. (NYSE:XRXFree Report).

Institutional Ownership by Quarter for Xerox (NYSE:XRX)

Receive News & Ratings for Xerox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xerox and related companies with MarketBeat.com's FREE daily email newsletter.