Axa S.A. Sells 122,685 Shares of Xerox Holdings Co. (NYSE:XRX)

Axa S.A. reduced its stake in Xerox Holdings Co. (NYSE:XRX) by 14.5% during the second quarter, HoldingsChannel.com reports. The firm owned 722,696 shares of the information technology services provider’s stock after selling 122,685 shares during the quarter. Axa S.A.’s holdings in Xerox were worth $8,398,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in XRX. Vanguard Group Inc. raised its holdings in Xerox by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock worth $292,937,000 after buying an additional 190,034 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Xerox by 1.5% in the 4th quarter. Allianz Asset Management GmbH now owns 1,044,971 shares of the information technology services provider’s stock valued at $19,154,000 after acquiring an additional 15,408 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in Xerox by 3.5% during the 1st quarter. Bridgeway Capital Management LLC now owns 986,682 shares of the information technology services provider’s stock valued at $17,662,000 after purchasing an additional 33,590 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new stake in shares of Xerox in the 4th quarter worth $14,832,000. Finally, Sound Income Strategies LLC raised its stake in shares of Xerox by 7.4% in the second quarter. Sound Income Strategies LLC now owns 807,889 shares of the information technology services provider’s stock worth $9,388,000 after purchasing an additional 55,454 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Trading Up 1.5 %

Xerox stock opened at $10.58 on Friday. The business has a 50-day simple moving average of $10.53 and a two-hundred day simple moving average of $13.02. Xerox Holdings Co. has a 52-week low of $9.51 and a 52-week high of $19.78. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.34. The company has a market cap of $1.32 billion, a P/E ratio of -6.74 and a beta of 1.57.

Xerox (NYSE:XRX) last announced its earnings results 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 business had revenue of $1.58 billion for 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 7.33%. The firm’s quarterly revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share. Analysts predict that Xerox Holdings Co. will post 1.79 EPS for the current year.

Xerox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 yield of 9.45%. Xerox’s dividend payout ratio (DPR) is presently -63.69%.

Analyst Ratings Changes

A number of brokerages have weighed in on XRX. Citigroup began coverage on Xerox in a research report on Friday, June 28th. They issued a “sell” rating and a $11.00 target price for the company. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Finally, Loop Capital lowered their price objective 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 research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.75.

About Xerox

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.