Cubist Systematic Strategies LLC Acquires 8,736 Shares of Xerox Holdings Co. (NYSE:XRX)

Cubist Systematic Strategies LLC boosted its position in Xerox Holdings Co. (NYSE:XRX) by 21.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 49,881 shares of the information technology services provider’s stock after buying an additional 8,736 shares during the period. Cubist Systematic Strategies LLC’s holdings in Xerox were worth $580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in XRX. CWM LLC grew its holdings in shares of Xerox by 155.5% during the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 1,378 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Xerox during the 1st quarter worth $45,000. nVerses Capital LLC acquired a new stake in shares of Xerox during the 2nd quarter worth $78,000. Plato Investment Management Ltd grew its holdings in shares of Xerox by 45.0% during the 2nd quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock worth $109,000 after purchasing an additional 2,899 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Xerox during the 2nd quarter worth $115,000. 85.36% of the stock is currently owned by institutional investors.

Xerox Stock Performance

NYSE:XRX opened at $10.26 on Friday. The stock’s 50-day simple moving average is $10.37 and its 200 day simple moving average is $12.55. Xerox Holdings Co. has a twelve month low of $9.51 and a twelve month high of $19.78. The firm has a market capitalization of $1.28 billion, a PE ratio of -9.77 and a beta of 1.57. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.34.

Xerox (NYSE:XRX) last announced its quarterly 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 negative net margin of 1.60% and a positive return on equity of 7.33%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the business posted $0.44 earnings per share. The business’s revenue for the quarter was down 10.0% compared to the same quarter last year. On average, analysts anticipate that Xerox Holdings Co. will post 1.79 EPS for the current fiscal year.

Xerox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.75%. The ex-dividend date of this dividend is Monday, September 30th. Xerox’s payout ratio is -95.24%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on XRX shares. Citigroup started coverage on Xerox in a report on Friday, June 28th. They set a “sell” rating and a $11.00 target price on the stock. Loop Capital reduced their price objective on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Finally, StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Three 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. Based on data from MarketBeat, Xerox presently has an average rating of “Hold” and an average price target 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.