Ontario Teachers Pension Plan Board Sells 40,586 Shares of Xerox Holdings Co. (NYSE:XRX)

Ontario Teachers Pension Plan Board trimmed its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 74.4% during the first quarter, HoldingsChannel.com reports. The firm owned 13,965 shares of the information technology services provider’s stock after selling 40,586 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Xerox were worth $250,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in XRX. Vanguard Group Inc. raised its stake in shares of Xerox by 10.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock valued at $247,765,000 after purchasing an additional 1,464,851 shares during the period. Bridgeway Capital Management LLC purchased a new position in Xerox during the fourth quarter worth about $17,470,000. Intrinsic Edge Capital Management LLC purchased a new position in Xerox during the fourth quarter worth about $14,832,000. Norges Bank purchased a new position in Xerox during the fourth quarter worth about $9,435,000. Finally, American Century Companies Inc. grew its position in Xerox by 520.9% during the third quarter. American Century Companies Inc. now owns 378,129 shares of the information technology services provider’s stock worth $5,933,000 after buying an additional 317,233 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

XRX has been the subject of several recent analyst reports. StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. reduced their target price on Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Wednesday, April 24th. Finally, Citigroup assumed coverage on Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 target price for the company.

Xerox Price Performance

Shares of XRX traded down $0.13 during midday trading on Tuesday, reaching $11.75. The stock had a trading volume of 58,489 shares, compared to its average volume of 2,172,660. The company’s 50-day moving average is $12.94 and its 200 day moving average is $15.48. Xerox Holdings Co. has a 12-month low of $10.28 and a 12-month high of $19.78. The company has a current ratio of 1.37, a quick ratio of 1.07 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -7.57 and a beta of 1.58.

Xerox (NYSE:XRX) last posted its quarterly earnings data on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. Xerox’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, equities analysts predict that Xerox Holdings Co. will post 2.07 EPS for the current fiscal year.

Xerox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.51%. The ex-dividend date of this dividend is Friday, June 28th. Xerox’s dividend payout ratio is presently -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.