Wedge Capital Management L L P NC Has $2.01 Million Stock Position in Xerox Holdings Co. (NYSE:XRX)

Wedge Capital Management L L P NC increased its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 21.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 193,994 shares of the information technology services provider’s stock after buying an additional 34,216 shares during the quarter. Wedge Capital Management L L P NC owned 0.16% of Xerox worth $2,014,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. CWM LLC raised its position in shares of Xerox by 155.5% during the second 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 during the period. EntryPoint Capital LLC bought a new stake in Xerox during the 1st quarter worth approximately $45,000. nVerses Capital LLC acquired a new stake in Xerox during the 2nd quarter worth approximately $78,000. Plato Investment Management Ltd lifted its stake in Xerox by 45.0% in the second quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock valued at $109,000 after buying an additional 2,899 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Xerox in the second quarter valued at approximately $115,000. 85.36% of the stock is currently owned by institutional investors.

Xerox Price Performance

NYSE:XRX opened at $10.48 on Thursday. Xerox Holdings Co. has a 52-week low of $9.51 and a 52-week high of $19.78. The company has a market cap of $1.30 billion, a P/E ratio of -9.98 and a beta of 1.57. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.49. The stock’s 50-day simple moving average is $10.40 and its 200 day simple moving average is $12.40.

Xerox (NYSE:XRX) last posted its quarterly earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate 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 firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS. As a group, sell-side analysts forecast that Xerox Holdings Co. will post 1.79 EPS 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.54%. The ex-dividend date of this dividend is Monday, September 30th. Xerox’s dividend payout ratio (DPR) is presently -95.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on XRX shares. Loop Capital cut 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. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Finally, Citigroup started coverage on Xerox in a research report on Friday, June 28th. They issued a “sell” rating and a $11.00 target price on the stock. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Xerox currently has a consensus rating of “Hold” and a consensus price target of $12.75.

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.