Hsbc Holdings PLC Acquires 32,325 Shares of Xerox Holdings Co. (NYSE:XRX)

Hsbc Holdings PLC raised its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 67.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,929 shares of the information technology services provider’s stock after purchasing an additional 32,325 shares during the quarter. Hsbc Holdings PLC’s holdings in Xerox were worth $934,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC lifted its holdings in shares of Xerox by 155.5% in the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 1,378 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Xerox during the first quarter valued at approximately $45,000. TFO Wealth Partners LLC lifted its stake in shares of Xerox by 30,127.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock valued at $61,000 after purchasing an additional 3,314 shares during the last quarter. Plato Investment Management Ltd purchased a new position in shares of Xerox in the 1st quarter worth approximately $115,000. Finally, nVerses Capital LLC bought a new position in shares of Xerox during the 2nd quarter valued at approximately $78,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

XRX has been the subject of several recent analyst reports. StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Citigroup started coverage on shares of Xerox in a research note on Friday, June 28th. They set a “sell” rating and a $11.00 price target for the company. Finally, Loop Capital reduced 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 assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Xerox presently has a consensus rating of “Hold” and an average price target of $12.75.

Xerox Stock Up 1.5 %

Shares of XRX opened at $10.58 on Friday. The firm has a market capitalization of $1.32 billion, a P/E ratio of -6.74 and a beta of 1.57. Xerox Holdings Co. has a 12-month low of $9.51 and a 12-month high of $19.78. The firm has a fifty day moving average price of $10.53 and a 200-day moving average price of $13.02. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34.

Xerox (NYSE:XRX) last issued 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). Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company earned $0.44 earnings per share. Xerox’s revenue was down 10.0% on a year-over-year basis. Equities research analysts expect that Xerox Holdings Co. will post 1.79 earnings per share for the current year.

Xerox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.45%. The ex-dividend date of this dividend is Monday, September 30th. Xerox’s dividend payout ratio is -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.