Advisors Asset Management Inc. Grows Stock Position in Xerox Holdings Co. (NYSE:XRX)

Advisors Asset Management Inc. grew its position in Xerox Holdings Co. (NYSE:XRX) by 9.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 796,609 shares of the information technology services provider’s stock after acquiring an additional 69,183 shares during the quarter. Advisors Asset Management Inc.’s holdings in Xerox were worth $8,269,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SummerHaven Investment Management LLC lifted its position in shares of Xerox by 2.4% in the second quarter. SummerHaven Investment Management LLC now owns 47,430 shares of the information technology services provider’s stock valued at $551,000 after acquiring an additional 1,110 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Xerox by 5.9% in the second quarter. Los Angeles Capital Management LLC now owns 23,930 shares of the information technology services provider’s stock valued at $278,000 after purchasing an additional 1,327 shares during the last quarter. CWM LLC increased its holdings in shares of Xerox by 155.5% in the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 1,378 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Xerox by 2.7% in the second quarter. Louisiana State Employees Retirement System now owns 57,500 shares of the information technology services provider’s stock valued at $668,000 after purchasing an additional 1,500 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Xerox by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 63,666 shares of the information technology services provider’s stock valued at $740,000 after purchasing an additional 1,627 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley cut their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. 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 report on Wednesday, October 30th. StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Loop Capital cut their target price on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $9.50.

Xerox Price Performance

XRX stock opened at $8.39 on Thursday. The business has a fifty day moving average of $9.72 and a two-hundred day moving average of $11.22. 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 stock has a market cap of $1.04 billion, a price-to-earnings ratio of 8.17 and a beta of 1.59. Xerox Holdings Co. has a 52-week low of $8.02 and a 52-week high of $19.78.

Xerox (NYSE:XRX) last released its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.26). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. The company’s quarterly revenue was down 7.5% on a year-over-year basis. As a group, research analysts anticipate that Xerox Holdings Co. will post 1.38 earnings per share for the current year.

Xerox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 11.92%. Xerox’s dividend payout ratio is currently -9.06%.

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.