Zurcher Kantonalbank Zurich Cantonalbank Trims Stake in Xerox Holdings Co. (NYSE:XRX)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 32.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,302 shares of the information technology services provider’s stock after selling 13,334 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Xerox were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Louisiana State Employees Retirement System lifted its position in Xerox by 2.7% in the second quarter. Louisiana State Employees Retirement System now owns 57,500 shares of the information technology services provider’s stock valued at $668,000 after buying an additional 1,500 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Xerox by 2.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 47,430 shares of the information technology services provider’s stock worth $551,000 after acquiring an additional 1,110 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Xerox by 10.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 51,250 shares of the information technology services provider’s stock worth $608,000 after purchasing an additional 4,806 shares during the period. Wedge Capital Management L L P NC increased its holdings in Xerox by 30.3% in the 2nd quarter. Wedge Capital Management L L P NC now owns 159,778 shares of the information technology services provider’s stock valued at $1,857,000 after purchasing an additional 37,180 shares during the last quarter. Finally, Diversified Trust Co raised its position in Xerox by 8.9% in the second quarter. Diversified Trust Co now owns 22,395 shares of the information technology services provider’s stock valued at $260,000 after purchasing an additional 1,822 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

XRX has been the subject of a number of research reports. Citigroup initiated coverage on Xerox in a research note on Friday, June 28th. They issued a “sell” rating and a $11.00 price objective for the company. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Loop Capital reduced their price target on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.75.

Xerox Trading Up 0.6 %

XRX opened at $10.23 on Friday. The business has a fifty day moving average price of $10.84 and a 200 day moving average price of $13.84. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.49 and a quick ratio of 1.13. Xerox Holdings Co. has a 12 month low of $9.51 and a 12 month high of $19.78. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -6.52 and a beta of 1.57.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Thursday, July 25th. The information technology services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The business’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. Sell-side analysts expect that Xerox Holdings Co. will post 1.79 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 9.78%. Xerox’s dividend payout ratio (DPR) 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.