Wealth Enhancement Advisory Services LLC Grows Position in Xerox Holdings Co. (NYSE:XRX)

Wealth Enhancement Advisory Services LLC grew its position in shares of Xerox Holdings Co. (NYSE:XRX) by 24.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,600 shares of the information technology services provider’s stock after purchasing an additional 3,444 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Xerox were worth $183,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. CWM LLC increased its holdings in Xerox by 155.5% in 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 in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Xerox in the 1st quarter valued at about $45,000. Plato Investment Management Ltd acquired a new position in Xerox in the 1st quarter worth about $115,000. nVerses Capital LLC purchased a new position in Xerox during the second quarter worth approximately $78,000. Finally, International Assets Investment Management LLC grew its holdings in Xerox by 938.0% in the third quarter. International Assets Investment Management LLC now owns 8,304 shares of the information technology services provider’s stock valued at $800,000 after purchasing an additional 7,504 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

XRX has been the subject of several research analyst reports. Morgan Stanley reduced their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Loop Capital reduced their price objective 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. JPMorgan Chase & Co. dropped their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research report on Saturday. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.50.

Xerox Trading Down 3.1 %

Shares of XRX stock opened at $8.67 on Wednesday. Xerox Holdings Co. has a fifty-two week low of $8.02 and a fifty-two week high of $19.78. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. The stock’s fifty day moving average is $9.94 and its two-hundred day moving average is $11.42. The firm has a market capitalization of $1.08 billion, a P/E ratio of -0.79 and a beta of 1.59.

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

Xerox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.53%. Xerox’s dividend payout ratio (DPR) is presently -9.06%.

Xerox 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.