Creative Planning Purchases New Stake in Xerox Holdings Co. (NYSE:XRX)

Creative Planning acquired a new position in Xerox Holdings Co. (NYSE:XRX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 21,715 shares of the information technology services provider’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in XRX. Susquehanna Fundamental Investments LLC purchased a new position in Xerox in the first quarter valued at approximately $1,206,000. SG Capital Management LLC bought a new position in shares of Xerox during the 1st quarter worth $8,466,000. Mizuho Markets Americas LLC purchased a new stake in Xerox in the 1st quarter worth about $1,656,000. AQR Capital Management LLC raised its stake in Xerox by 75.2% in the 2nd quarter. AQR Capital Management LLC now owns 179,118 shares of the information technology services provider’s stock valued at $2,081,000 after acquiring an additional 76,886 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Xerox during the first quarter valued at about $4,066,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

XRX has been the topic of several research reports. Loop Capital lowered their price target on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Morgan Stanley lowered their target price on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a report on Saturday. Finally, JPMorgan Chase & Co. decreased their price objective 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 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 data from MarketBeat, Xerox has a consensus rating of “Hold” and an average target price of $9.50.

Xerox Stock Down 0.1 %

Shares of NYSE:XRX opened at $8.89 on Monday. The firm has a fifty day moving average price of $10.04 and a two-hundred day moving average price of $11.49. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -0.81 and a beta of 1.59. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95. Xerox Holdings Co. has a one year low of $8.02 and a one year high of $19.78.

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

Xerox Announces Dividend

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

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.