Empowered Funds LLC Purchases 25,590 Shares of Xerox Holdings Co. (NYSE:XRX)

Empowered Funds LLC lifted its position in Xerox Holdings Co. (NYSE:XRX) by 4.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 560,536 shares of the information technology services provider’s stock after buying an additional 25,590 shares during the period. Empowered Funds LLC owned about 0.45% of Xerox worth $5,818,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC boosted its stake in Xerox by 27.9% during the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock valued at $10,728,000 after purchasing an additional 225,617 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in Xerox by 3.5% in the 1st quarter. Bridgeway Capital Management LLC now owns 986,682 shares of the information technology services provider’s stock worth $17,662,000 after buying an additional 33,590 shares in the last quarter. Royce & Associates LP raised its position in Xerox by 16.9% in the 3rd quarter. Royce & Associates LP now owns 742,189 shares of the information technology services provider’s stock worth $7,704,000 after buying an additional 107,127 shares during the last quarter. SG Capital Management LLC bought a new position in Xerox during the 1st quarter valued at about $8,466,000. Finally, Edgestream Partners L.P. boosted its holdings in shares of Xerox by 51.5% during the 2nd quarter. Edgestream Partners L.P. now owns 381,508 shares of the information technology services provider’s stock valued at $4,433,000 after acquiring an additional 129,616 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a research report on Sunday. Morgan Stanley cut their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Loop Capital cut their price target on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $9.50.

Xerox Stock Performance

NYSE:XRX opened at $8.43 on Friday. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. The stock has a 50-day simple moving average of $9.82 and a two-hundred day simple moving average of $11.32. The firm has a market capitalization of $1.05 billion, a PE ratio of 8.18 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 earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.26). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The company’s revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 earnings per share. Analysts forecast that Xerox Holdings Co. will post 1.38 EPS for the current year.

Xerox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 11.86%. Xerox’s dividend payout ratio is presently -9.06%.

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.