Jacobs Levy Equity Management Inc. Decreases Holdings in Xerox Holdings Co. (NYSE:XRX)

Jacobs Levy Equity Management Inc. trimmed its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 27.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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. owned 1.03% of Xerox worth $22,838,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Xerox by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock valued at $292,937,000 after purchasing an additional 190,034 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 buying an additional 153,144 shares in the last quarter. Allianz Asset Management GmbH lifted its stake 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 buying an additional 15,408 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake 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 buying an additional 33,590 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new position in shares of Xerox in the fourth quarter worth about $14,832,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Xerox Trading Down 2.0 %

Shares of Xerox stock traded down $0.23 on Tuesday, reaching $11.08. The company had a trading volume of 2,185,173 shares, compared to its average volume of 2,211,739. The firm’s 50 day moving average price is $12.68 and its two-hundred day moving average price is $15.31. The firm has a market cap of $1.38 billion, a PE ratio of -7.06 and a beta of 1.58. Xerox Holdings Co. has a 52-week low of $10.28 and a 52-week high of $19.78. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.13 and a current ratio of 1.49.

Xerox (NYSE:XRX) last released 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 analysts’ expectations of $1.60 billion. Xerox had a negative net margin of 1.60% and a positive return on equity of 7.49%. Xerox’s revenue was down 10.0% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. Sell-side analysts predict that Xerox Holdings Co. will post 1.99 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.03%. The ex-dividend date is Friday, June 28th. Xerox’s payout ratio is currently -63.69%.

Xerox 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.