The Louisiana State Employees Retirement System has a $637,000 position in Xerox Holdings Co. (NYSE:XRX)
The Louisiana State Employees Retirement System reduced its holdings of Xerox Holdings Co. (NYSE:XRX – Get Rating) stock by 9.1% in the first quarter, HoldingsChannel reports. The company held 32,100 shares of the IT services provider after selling 3,200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Xerox were worth $637,000 when it last filed with the SEC.
Several other hedge funds and other institutional investors have also increased or reduced their stakes in the company. Fifth Third Bancorp increased its position in Xerox shares by 17.3% during the first quarter. Fifth Third Bancorp now owns 3,676 shares of the information technology service provider worth $74,000 after purchasing an additional 542 shares during the period. TCI Wealth Advisors Inc. increased its position in Xerox shares by 81.1% during the fourth quarter. TCI Wealth Advisors Inc. now owns 1,612 shares of the information technology service provider worth $36,000 after purchasing an additional 722 shares during the period. Exchange Traded Concepts LLC increased its holdings of Xerox stock by 73.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,278 shares of the information technology service provider worth $52,000 after buying an additional 962 shares last quarter. Parallel Advisors LLC increased its holdings of Xerox stock by 1,882.5% during the fourth quarter. Parallel Advisors LLC now owns 1,130 shares of the information technology service provider worth $26,000 after buying 1,073 additional shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in Xerox shares by 1.2% during the fourth quarter. Mutual of America Capital Management LLC now owns 122,957 shares of the information technology service provider worth $2,784,000 after buying 1,428 additional shares last quarter. 87.00% of the shares are currently held by institutional investors.
XRX stock opened at $14.19 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt ratio of 0.67. The company has a 50-day moving average price of $16.77 and a two-hundred-day moving average price of $19.22. The company has a market capitalization of $2.20 billion, a price-earnings ratio of -4.16 and a beta of 1.70. Xerox Holdings Co. has a 12-month low of $13.24 and a 12-month high of $24.99.
Xerox (NYSE:XRX – Get Rating) last released its quarterly results on Thursday, April 21. The information technology service provider reported ($0.12) earnings per share for the quarter, missing analyst consensus estimates of $0.12 per ($0.24). The company posted revenue of $1.67 billion in the quarter, versus a consensus estimate of $1.63 billion. Xerox had a negative net margin of 7.86% and a positive return on equity of 4.85%. The company’s revenue for the quarter was down 2.5% from the same quarter last year. In the same quarter a year earlier, the company earned $0.22 per share. On average, stock research analysts expect Xerox Holdings Co. to post EPS of 1.21 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 1. Shareholders of record on Thursday, June 30 will receive a dividend of $0.25. The ex-dividend date is Wednesday, June 29. This represents a dividend of $1.00 on an annualized basis and a yield of 7.05%. Xerox’s dividend payout rate is -29.33%.
In other Xerox news, major shareholder Carl C. Icahn purchased 1,346,523 Xerox shares in a trade dated Friday, April 22. The stock was purchased at an average price of $16.96 per share, for a total transaction of $22,837,030.08. Following the purchase, the insider now owns 33,461,414 shares of the company, valued at approximately $567,505,581.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, major shareholder Carl C. Icahn purchased 783,900 Xerox shares in a transaction dated Monday, April 25. The shares were acquired at an average price of $17.17 per share, with a total value of $13,459,563.00. Following the completion of the purchase, the insider now directly owns 34,245,314 shares of the company, valued at approximately $587,992,041.38. Disclosure of this purchase can be found here. Insiders own 1.10% of the shares of the company.
XRX has been the subject of a number of research reports. Citigroup cut its price target on Xerox from $17.00 to $15.00 and set a “sell” rating for the company in a Friday, April 22 report. TheStreet downgraded Xerox from a “c-” rating to a “d+” rating in a Thursday, July 7 report. Morgan Stanley cut its price target on Xerox from $15.00 to $13.00 and set an “underweight” rating for the company in a Friday, April 22 report. Finally, StockNews.com launched coverage on Xerox in a report on Thursday, March 31. They set a “holding” rating for the company.
About Xerox (Get an evaluation)
Xerox Holdings Corporation, a workplace technology company, designs, develops and sells document management systems and solutions in the United States, Europe, Canada and internationally. It offers solutions for the workplace, including monochrome, color and multifunction desktop printers; digital printing presses and light production devices and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions and digitization services.
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