Federated Hermes Inc. Lowers Stock Holdings in Xerox Holdings Co. $XRX

Federated Hermes Inc. trimmed its holdings in Xerox Holdings Co. (NYSE:XRX) by 9.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,319,813 shares of the information technology services provider’s stock after selling 362,189 shares during the quarter. Federated Hermes Inc. owned 2.64% of Xerox worth $17,495,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Marshall Wace LLP lifted its position in Xerox by 71.0% in the second quarter. Marshall Wace LLP now owns 3,928,444 shares of the information technology services provider’s stock valued at $20,703,000 after purchasing an additional 1,630,999 shares during the last quarter. Paradigm Capital Management Inc. NY increased its stake in shares of Xerox by 2,392.4% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,246,200 shares of the information technology services provider’s stock worth $6,019,000 after buying an additional 1,196,200 shares during the period. Private Management Group Inc. bought a new stake in Xerox during the 2nd quarter valued at $5,513,000. Nuveen LLC purchased a new stake in Xerox during the 1st quarter valued at $4,765,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Xerox by 348.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 953,827 shares of the information technology services provider’s stock worth $4,607,000 after acquiring an additional 741,297 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on XRX. Zacks Research raised shares of Xerox from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 3rd. Citigroup lowered their price target on Xerox from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Monday, November 10th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.50.

Xerox Stock Performance

Xerox stock opened at $2.62 on Thursday. Xerox Holdings Co. has a fifty-two week low of $2.32 and a fifty-two week high of $9.91. The stock’s 50 day simple moving average is $3.04 and its two-hundred day simple moving average is $4.08. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The stock has a market cap of $335.46 million, a price-to-earnings ratio of -0.24 and a beta of 1.73.

Xerox (NYSE:XRX) last released its earnings results on Thursday, October 30th. The information technology services provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.38. Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%.The company’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. As a group, analysts expect that Xerox Holdings Co. will post 1.07 earnings per share for the current fiscal year.

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.8%. Xerox’s dividend payout ratio is currently -1.28%.

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.