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

Empowered Funds LLC lifted its holdings in Xerox Holdings Co. (NYSE:XRX) by 4.8% in the third quarter, HoldingsChannel reports. The firm owned 560,536 shares of the information technology services provider’s stock after purchasing an additional 25,590 shares during the quarter. Empowered Funds LLC’s holdings in Xerox were worth $5,818,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in XRX. SG Capital Management LLC purchased a new stake in Xerox during the first quarter valued at approximately $8,466,000. AQR Capital Management LLC lifted its position in Xerox by 75.2% in the second quarter. AQR Capital Management LLC now owns 179,118 shares of the information technology services provider’s stock worth $2,081,000 after buying an additional 76,886 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Xerox during the first quarter worth $4,066,000. Sound Income Strategies LLC increased its position in Xerox by 27.9% during the third 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 acquiring an additional 225,617 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Xerox by 1,960.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 163,163 shares of the information technology services provider’s stock valued at $1,694,000 after acquiring an additional 155,244 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Xerox Trading Up 0.5 %

XRX opened at $8.43 on Friday. Xerox Holdings Co. has a 52 week low of $8.02 and a 52 week high of $19.78. The company has a market capitalization of $1.05 billion, a P/E ratio of 8.18 and a beta of 1.59. The stock’s fifty day moving average is $9.82 and its two-hundred day moving average is $11.32. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11.

Xerox (NYSE:XRX) last released its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the company earned $0.46 earnings per share. The firm’s revenue was down 7.5% compared to the same quarter last year. Analysts forecast that Xerox Holdings Co. will post 1.38 earnings per share for the current year.

Xerox Dividend Announcement

The business also recently announced 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 currently -9.06%.

Wall Street Analysts Forecast Growth

XRX has been the topic of several analyst reports. StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a report on Sunday. Loop Capital reduced their price target on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. JPMorgan Chase & Co. dropped their price objective on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Finally, Morgan Stanley reduced their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat.com, Xerox has a consensus rating of “Reduce” and an average target price of $9.50.

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.