Northern Trust Corp Buys 100,900 Shares of Xerox Holdings Co. (NYSE:XRX)

Northern Trust Corp grew its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 7.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,405,471 shares of the information technology services provider’s stock after acquiring an additional 100,900 shares during the quarter. Northern Trust Corp owned about 1.13% of Xerox worth $11,848,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Xerox by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider’s stock valued at $132,888,000 after acquiring an additional 199,598 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Xerox by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider’s stock worth $15,276,000 after buying an additional 92,495 shares during the last quarter. Invesco Ltd. lifted its position in shares of Xerox by 5.9% during the 4th quarter. Invesco Ltd. now owns 1,706,086 shares of the information technology services provider’s stock worth $14,382,000 after buying an additional 94,779 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Xerox by 397.5% during the 4th quarter. Marshall Wace LLP now owns 1,378,215 shares of the information technology services provider’s stock worth $11,618,000 after buying an additional 1,101,171 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of Xerox by 6.7% during the 4th quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider’s stock worth $9,296,000 after buying an additional 69,182 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

Xerox Price Performance

Shares of XRX stock opened at $5.54 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. Xerox Holdings Co. has a twelve month low of $3.45 and a twelve month high of $14.81. The company has a market cap of $696.88 million, a P/E ratio of -0.52 and a beta of 1.75. The business has a fifty day simple moving average of $4.82 and a 200 day simple moving average of $7.19.

Xerox (NYSE:XRX) last posted its earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. Xerox’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.06 earnings per share. On average, sell-side analysts forecast that Xerox Holdings Co. will post 1.07 EPS for the current fiscal year.

Xerox Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a $0.125 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 9.03%. Xerox’s dividend payout ratio is presently -4.74%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target 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.