Xerox Holdings Co. (NYSE:XRX) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. cut its stake in Xerox Holdings Co. (NYSE:XRX) by 27.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,275,876 shares of the information technology services provider’s stock after selling 484,695 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Xerox were worth $22,838,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Xerox by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock worth $292,937,000 after acquiring an additional 190,034 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Xerox by 10.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,587,041 shares of the information technology services provider’s stock worth $29,090,000 after acquiring an additional 153,144 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of Xerox by 1.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,044,971 shares of the information technology services provider’s stock worth $19,154,000 after acquiring an additional 15,408 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in shares of Xerox by 3.5% in the first quarter. Bridgeway Capital Management LLC now owns 986,682 shares of the information technology services provider’s stock worth $17,662,000 after acquiring an additional 33,590 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in shares of Xerox in the fourth quarter worth approximately $14,832,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Xerox Stock Down 2.0 %

Shares of NYSE XRX traded down $0.23 during trading on Tuesday, reaching $11.08. 2,185,173 shares of the stock were exchanged, compared to its average volume of 2,211,739. The business’s 50-day moving average price is $12.68 and its 200 day moving average price is $15.31. Xerox Holdings Co. has a twelve month low of $10.28 and a twelve month high of $19.78. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -7.06 and a beta of 1.58.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Xerox had a positive return on equity of 7.49% and a negative net margin of 1.60%. The firm’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. As a group, equities analysts forecast that Xerox Holdings Co. will post 1.99 EPS for the current fiscal year.

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.03%. Xerox’s dividend payout ratio (DPR) is presently -63.69%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup assumed coverage on shares of Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 price target on the stock. StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research report on Friday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 24th.

About Xerox

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.