Geode Capital Management LLC Acquires 62,947 Shares of Xerox Holdings Co. (NYSE:XRX)

Geode Capital Management LLC grew its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 2.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,808,775 shares of the information technology services provider’s stock after purchasing an additional 62,947 shares during the period. Geode Capital Management LLC’s holdings in Xerox were worth $29,161,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its holdings 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 worth $668,000 after acquiring an additional 1,500 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of Xerox by 8.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 342,715 shares of the information technology services provider’s stock worth $3,982,000 after purchasing an additional 25,819 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Xerox in the 2nd quarter worth about $457,000. Mizuho Markets Americas LLC grew its position in Xerox by 282.4% during the 2nd quarter. Mizuho Markets Americas LLC now owns 353,682 shares of the information technology services provider’s stock valued at $4,110,000 after purchasing an additional 261,180 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in Xerox during the 2nd quarter valued at about $78,000. 85.36% of the stock is owned by institutional investors.

Xerox Trading Down 0.7 %

Shares of XRX stock opened at $9.17 on Friday. The stock has a market capitalization of $1.14 billion, a P/E ratio of -0.83 and a beta of 1.59. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11. The firm’s 50 day moving average is $8.95 and its 200 day moving average is $10.35. Xerox Holdings Co. has a 12-month low of $8.02 and a 12-month high of $19.78.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm earned $0.46 EPS. The business’s revenue was down 7.5% on a year-over-year basis. Research analysts expect that Xerox Holdings Co. will post 1.12 earnings per share for the current year.

Xerox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.91%. The ex-dividend date is Tuesday, December 31st. Xerox’s dividend payout ratio (DPR) is presently -9.06%.

Wall Street Analysts Forecast Growth

XRX has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a report on Thursday. Morgan Stanley decreased their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their price objective on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.50.

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.