Xerox (NYSE:XRX) Stock Price Down 2.7%

Xerox Holdings Co. (NYSE:XRX)’s stock price fell 2.7% on Tuesday . The stock traded as low as $10.26 and last traded at $10.29. 578,995 shares changed hands during trading, a decline of 73% from the average session volume of 2,128,526 shares. The stock had previously closed at $10.58.

Analysts Set New Price Targets

A number of analysts have recently issued reports on XRX shares. StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Citigroup began coverage on Xerox in a research note on Friday, June 28th. They issued a “sell” rating and a $11.00 price target for the company. Finally, Loop Capital lowered their price objective on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Xerox has a consensus rating of “Hold” and a consensus price target of $12.75.

Xerox Stock Down 1.9 %

The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $1.29 billion, a PE ratio of -6.59 and a beta of 1.57. The company’s 50 day moving average is $10.69 and its two-hundred day moving average is $13.45.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. On average, analysts anticipate that Xerox Holdings Co. will post 1.79 earnings per share for the current year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 9.63%. Xerox’s dividend payout ratio (DPR) is -63.69%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC lifted its position in Xerox by 155.5% during 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. EntryPoint Capital LLC bought a new position in shares of Xerox in the 1st quarter valued at about $45,000. TFO Wealth Partners LLC grew its position in Xerox by 30,127.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock worth $61,000 after acquiring an additional 3,314 shares in the last quarter. Plato Investment Management Ltd bought a new stake in Xerox during the first quarter worth approximately $115,000. Finally, nVerses Capital LLC purchased a new stake in Xerox during the second quarter valued at approximately $78,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.