Geode Capital Management LLC Acquires 62,947 Shares of Xerox Holdings Co. (NYSE:XRX)

Geode Capital Management LLC lifted its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 2.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,808,775 shares of the information technology services provider’s stock after acquiring an additional 62,947 shares during the period. Geode Capital Management LLC owned 2.26% of Xerox worth $29,161,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in XRX. Gladius Capital Management LP acquired a new position in shares of Xerox during the third quarter worth approximately $29,000. US Bancorp DE lifted its position in shares of Xerox by 42.3% during the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after buying an additional 1,888 shares in the last quarter. nVerses Capital LLC purchased a new position in Xerox in the second quarter worth $78,000. Plato Investment Management Ltd boosted its holdings in shares of Xerox by 45.0% in the 2nd quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock worth $109,000 after buying an additional 2,899 shares during the last quarter. Finally, CWM LLC boosted its stake in Xerox by 381.3% in the third quarter. CWM LLC now owns 10,897 shares of the information technology services provider’s stock valued at $113,000 after acquiring an additional 8,633 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Stock Performance

NYSE XRX opened at $9.17 on Friday. Xerox Holdings Co. has a 12-month low of $8.02 and a 12-month high of $19.78. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11. The company has a 50-day simple moving average of $8.95 and a two-hundred day simple moving average of $10.35. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -0.83 and a beta of 1.59.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. Xerox’s revenue was down 7.5% on a year-over-year basis. During the same period last year, the business earned $0.46 EPS. On average, equities analysts forecast that Xerox Holdings Co. will post 1.12 EPS for the current year.

Xerox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 10.91%. Xerox’s dividend payout ratio (DPR) is presently -9.06%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on XRX shares. JPMorgan Chase & Co. cut their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley reduced their price target on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company 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 Thursday. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.50.

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.