Point72 Asset Management L.P. Acquires 10,794 Shares of Xerox Holdings Co. (NYSE:XRX)

Point72 Asset Management L.P. lifted its stake in Xerox Holdings Co. (NYSE:XRX) by 39.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,312 shares of the information technology services provider’s stock after buying an additional 10,794 shares during the period. Point72 Asset Management L.P.’s holdings in Xerox were worth $398,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in XRX. Advisors Asset Management Inc. boosted its position in shares of Xerox by 9.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock worth $8,269,000 after acquiring an additional 69,183 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Xerox by 6.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock worth $17,850,000 after purchasing an additional 107,580 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Xerox by 75.2% in the 2nd quarter. AQR Capital Management LLC now owns 179,118 shares of the information technology services provider’s stock valued at $2,081,000 after purchasing an additional 76,886 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Xerox by 16.9% during the 3rd quarter. Royce & Associates LP now owns 742,189 shares of the information technology services provider’s stock worth $7,704,000 after buying an additional 107,127 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of Xerox by 27.9% during the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after buying an additional 225,617 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Stock Performance

Xerox stock opened at $8.68 on Friday. The business has a 50 day moving average of $9.26 and a 200-day moving average of $10.70. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95. Xerox Holdings Co. has a 1 year low of $8.02 and a 1 year high of $19.78. The company has a market capitalization of $1.08 billion, a P/E ratio of -0.79 and a beta of 1.59.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. Xerox’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. On average, equities research analysts predict that Xerox Holdings Co. will post 1.12 earnings per share for the current year.

Xerox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.52%. The ex-dividend date of this dividend is Tuesday, December 31st. Xerox’s dividend payout ratio is currently -9.06%.

Analyst Upgrades and Downgrades

Several research analysts have commented on XRX shares. JPMorgan Chase & Co. lowered their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley cut their target price on shares of Xerox from $10.00 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 and two have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $9.50.

Xerox Company 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.