First Eagle Investment Management LLC Acquires Shares of 1,152,500 Xerox Holdings Co. $XRX

First Eagle Investment Management LLC bought a new position in shares of Xerox Holdings Co. (NASDAQ:XRX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,152,500 shares of the information technology services provider’s stock, valued at approximately $4,333,000. First Eagle Investment Management LLC owned 0.92% of Xerox as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. AQR Capital Management LLC grew its stake in Xerox by 71.7% in the first quarter. AQR Capital Management LLC now owns 345,631 shares of the information technology services provider’s stock worth $1,661,000 after purchasing an additional 144,280 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Xerox by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,047 shares of the information technology services provider’s stock worth $333,000 after buying an additional 2,838 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Xerox by 37.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,575,229 shares of the information technology services provider’s stock worth $7,608,000 after buying an additional 431,349 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Xerox by 2.1% during the first quarter. Empowered Funds LLC now owns 619,381 shares of the information technology services provider’s stock valued at $2,992,000 after buying an additional 12,633 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Xerox by 9.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,018 shares of the information technology services provider’s stock valued at $2,898,000 after acquiring an additional 50,467 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Stock Up 3.5%

NASDAQ:XRX opened at $1.76 on Thursday. The company’s 50-day simple moving average is $2.22 and its 200-day simple moving average is $2.91. The company has a debt-to-equity ratio of 8.94, a quick ratio of 0.80 and a current ratio of 1.12. Xerox Holdings Co. has a fifty-two week low of $1.65 and a fifty-two week high of $6.81. The stock has a market capitalization of $225.35 million, a P/E ratio of -0.21 and a beta of 1.71.

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

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 5.7%. The ex-dividend date is Tuesday, March 31st. Xerox’s payout ratio is -1.22%.

Wall Street Analysts Forecast Growth

XRX has been the topic of several recent research reports. Zacks Research upgraded shares of Xerox from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Weiss Ratings initiated coverage on shares of Xerox in a research report on Wednesday, January 28th. They issued a “sell (d-)” rating for the company. Finally, Citigroup reiterated a “neutral” rating and set a $2.50 price objective (down from $3.50) on shares of Xerox in a research note on Friday, January 30th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Xerox currently has an average rating of “Reduce” and a consensus target price of $2.50.

Xerox Company 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.