New York State Teachers Retirement System Sells 3,300 Shares of Xerox Holdings Co. (NYSE:XRX)

New York State Teachers Retirement System trimmed its position in Xerox Holdings Co. (NYSE:XRX) by 2.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 126,542 shares of the information technology services provider’s stock after selling 3,300 shares during the period. New York State Teachers Retirement System owned about 0.10% of Xerox worth $1,314,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Sound Income Strategies LLC boosted its position in Xerox by 27.9% in the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock valued at $10,728,000 after buying an additional 225,617 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Xerox by 3.5% in the 1st quarter. Bridgeway Capital Management LLC now owns 986,682 shares of the information technology services provider’s stock valued at $17,662,000 after purchasing an additional 33,590 shares during the period. SG Capital Management LLC acquired a new position in shares of Xerox in the 1st quarter valued at $8,466,000. Edgestream Partners L.P. lifted its stake in shares of Xerox by 51.5% in the 2nd quarter. Edgestream Partners L.P. now owns 381,508 shares of the information technology services provider’s stock valued at $4,433,000 after purchasing an additional 129,616 shares during the period. Finally, Caxton Associates LP lifted its stake in shares of Xerox by 34.3% in the 2nd quarter. Caxton Associates LP now owns 362,733 shares of the information technology services provider’s stock valued at $4,215,000 after purchasing an additional 92,687 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on XRX. Morgan Stanley cut their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Loop Capital cut their price target on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. cut their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Xerox presently has a consensus rating of “Hold” and an average target price of $9.50.

Xerox Stock Performance

Shares of Xerox stock opened at $8.89 on Friday. The company has a market capitalization of $1.11 billion, a PE ratio of -0.81 and a beta of 1.59. Xerox Holdings Co. has a 12 month low of $8.02 and a 12 month high of $19.78. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11. The stock’s fifty day simple moving average is $10.04 and its 200 day simple moving average is $11.51.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.26). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 EPS. On average, research analysts predict that Xerox Holdings Co. will post 1.38 EPS for the current year.

Xerox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 11.25%. The ex-dividend date of this dividend is Tuesday, December 31st. Xerox’s dividend payout ratio is -9.06%.

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.