Federated Hermes Inc. Trims Position in Xerox Holdings Co. $XRX

Federated Hermes Inc. lessened its holdings in shares of Xerox Holdings Co. (NASDAQ:XRX) by 97.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,909 shares of the information technology services provider’s stock after selling 3,228,904 shares during the quarter. Federated Hermes Inc. owned approximately 0.07% of Xerox worth $342,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Spire Wealth Management purchased a new position in shares of Xerox during the 2nd quarter worth approximately $31,000. Socha Financial Group LLC bought a new stake in Xerox during the 3rd quarter valued at about $43,000. Plato Investment Management Ltd purchased a new position in Xerox in the 2nd quarter worth approximately $44,000. Cidel Asset Management Inc. purchased a new position in shares of Xerox in the second quarter worth $57,000. Finally, Captrust Financial Advisors bought a new position in Xerox during the 2nd quarter valued at about $58,000. Institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

XRX has been the subject of a number of research analyst reports. Zacks Research raised shares of Xerox from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Citigroup reaffirmed a “neutral” rating and issued a $2.50 price objective (down previously from $3.50) on shares of Xerox in a report on Friday, January 30th. Finally, Weiss Ratings assumed coverage on Xerox in a report on Wednesday, January 28th. They issued a “sell (d-)” rating on the stock. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $2.50.

Xerox Price Performance

NASDAQ XRX opened at $2.34 on Monday. The company has a current ratio of 1.12, a quick ratio of 0.80 and a debt-to-equity ratio of 8.94. Xerox Holdings Co. has a 12 month low of $2.03 and a 12 month high of $8.36. The stock has a market cap of $299.61 million, a price-to-earnings ratio of -0.28 and a beta of 1.72. The company’s 50 day moving average is $2.49 and its two-hundred day moving average is $3.24.

Xerox (NASDAQ:XRX) last announced its quarterly earnings data on Thursday, January 29th. The information technology services provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.25). Xerox had a negative return on equity of 8.26% and a negative net margin of 14.65%.The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period last year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was up 25.7% on a year-over-year basis. As a group, research analysts anticipate that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Profile

Xerox Holdings Corporation (NYSE: XRX) is a global provider of document management technology and services. The company designs and manufactures a broad range of multifunction printers, production printers, digital presses and related consumables. In addition to its hardware offerings, Xerox delivers software and workflow automation solutions, managed print services and cloud-based document platforms that help organizations optimize their information-intensive processes.

Founded in 1906 as The Haloid Photographic Company, Xerox pioneered xerographic imaging in the late 1940s, launching the first plain-paper copier in 1959.