Mutual of America Capital Management LLC lessened its position in Xerox Holdings Co. (NYSE:XRX – Get Rating) by 9.0% in the first quarter, HoldingsChannel reports. The firm owned 111,939 shares of the information technology services provider’s stock after selling 11,018 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Xerox were worth $2,258,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in XRX. Parallel Advisors LLC lifted its stake in shares of Xerox by 1,882.5% in the 4th quarter. Parallel Advisors LLC now owns 1,130 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 1,073 shares during the period. New York State Teachers Retirement System increased its holdings in shares of Xerox by 8.4% during the fourth quarter. New York State Teachers Retirement System now owns 198,540 shares of the information technology services provider’s stock valued at $4,495,000 after acquiring an additional 15,378 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Xerox by 722.8% during the fourth quarter. Signaturefd LLC now owns 2,131 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 1,872 shares in the last quarter. NN Investment Partners Holdings N.V. increased its holdings in shares of Xerox by 1,049.2% during the fourth quarter. NN Investment Partners Holdings N.V. now owns 70,100 shares of the information technology services provider’s stock valued at $1,588,000 after acquiring an additional 64,000 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Xerox during the fourth quarter valued at $305,000. Hedge funds and other institutional investors own 87.00% of the company’s stock.
Insider Activity at Xerox
In related news, SVP Naresh Shanker sold 10,700 shares of the business’s stock in a transaction on Friday, May 13th. The stock was sold at an average price of $17.16, for a total transaction of $183,612.00. Following the completion of the transaction, the senior vice president now owns 11,094 shares in the company, valued at approximately $190,373.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several brokerages have recently weighed in on XRX. Morgan Stanley restated a “maintains” rating on shares of Xerox in a report on Wednesday. JPMorgan Chase & Co. reduced their price target on Xerox from $16.00 to $14.00 and set an “underweight” rating for the company in a report on Thursday, July 14th. Citigroup reduced their price target on Xerox from $17.00 to $15.00 and set a “sell” rating for the company in a report on Friday, April 22nd. TheStreet cut Xerox from a “c-” rating to a “d+” rating in a research report on Thursday, July 7th. Finally, StockNews.com assumed coverage on Xerox in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $14.00.
Xerox Trading Up 0.8 %
Shares of NYSE:XRX opened at $16.85 on Friday. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -4.94 and a beta of 1.70. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.02 and a current ratio of 1.21. The stock’s 50-day simple moving average is $16.31 and its two-hundred day simple moving average is $18.66. Xerox Holdings Co. has a 52-week low of $13.24 and a 52-week high of $24.77.
Xerox (NYSE:XRX – Get Rating) last issued its earnings results on Tuesday, July 26th. The information technology services provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. Xerox had a positive return on equity of 4.85% and a negative net margin of 7.86%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.47 EPS. Analysts expect that Xerox Holdings Co. will post 1.08 EPS for the current year.
Xerox Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.93%. The ex-dividend date is Thursday, September 29th. Xerox’s dividend payout ratio is currently -29.33%.
Xerox Company Profile
Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.
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