Wedge Capital Management L L P NC Buys 8,383 Shares of Xerox Holdings Co. (NYSE:XRX)

Wedge Capital Management L L P NC grew its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 10.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,166 shares of the information technology services provider’s stock after purchasing an additional 8,383 shares during the period. Wedge Capital Management L L P NC owned about 0.07% of Xerox worth $1,653,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Arden Trust Co lifted its stake in Xerox by 1.8% in the 4th quarter. Arden Trust Co now owns 36,561 shares of the information technology services provider’s stock valued at $670,000 after purchasing an additional 661 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Xerox by 87.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,627 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 758 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Xerox by 3.0% during the third quarter. Oregon Public Employees Retirement Fund now owns 33,635 shares of the information technology services provider’s stock valued at $528,000 after acquiring an additional 975 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Xerox by 2.0% during the third quarter. Teacher Retirement System of Texas now owns 53,374 shares of the information technology services provider’s stock valued at $837,000 after acquiring an additional 1,045 shares during the last quarter. Finally, Diversified Trust Co raised its stake in shares of Xerox by 7.1% during the fourth quarter. Diversified Trust Co now owns 20,497 shares of the information technology services provider’s stock valued at $376,000 after acquiring an additional 1,352 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday. StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a report on Wednesday.

Xerox Stock Down 2.6 %

Shares of NYSE XRX opened at $14.38 on Thursday. The stock has a market capitalization of $1.79 billion, a P/E ratio of 10.62 and a beta of 1.56. The company has a 50-day moving average price of $17.42 and a 200-day moving average price of $16.30. Xerox Holdings Co. has a 1 year low of $12.06 and a 1 year high of $19.78. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.37 and a quick ratio of 0.91.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, equities research analysts forecast that Xerox Holdings Co. will post 2.31 EPS for the current fiscal year.

Xerox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.95%. The ex-dividend date is Wednesday, March 27th. Xerox’s dividend payout ratio (DPR) is presently -63.69%.

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.