LSV Asset Management Increases Position in Xerox Holdings Co. (NYSE:XRX)

LSV Asset Management boosted its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 0.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,246,783 shares of the information technology services provider’s stock after purchasing an additional 6,526 shares during the period. LSV Asset Management owned approximately 0.05% of Xerox worth $114,504,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Xerox by 10.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock valued at $247,765,000 after buying an additional 1,464,851 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Xerox by 43.0% in the third quarter. AQR Capital Management LLC now owns 1,766,610 shares of the information technology services provider’s stock valued at $27,718,000 after purchasing an additional 531,173 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Xerox by 9.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,433,897 shares of the information technology services provider’s stock worth $22,498,000 after purchasing an additional 128,227 shares in the last quarter. Invesco Ltd. raised its position in shares of Xerox by 65.2% during the 3rd quarter. Invesco Ltd. now owns 1,281,942 shares of the information technology services provider’s stock worth $20,114,000 after purchasing an additional 506,117 shares during the last quarter. Finally, Great Lakes Advisors LLC lifted its stake in Xerox by 0.5% in the 3rd quarter. Great Lakes Advisors LLC now owns 751,743 shares of the information technology services provider’s stock valued at $11,795,000 after buying an additional 3,620 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Xerox Price Performance

XRX traded down $0.03 during trading on Friday, reaching $13.36. The company’s stock had a trading volume of 1,980,395 shares, compared to its average volume of 2,889,430. The company has a quick ratio of 1.07, a current ratio of 1.37 and a debt-to-equity ratio of 1.34. The firm has a fifty day simple moving average of $16.71 and a two-hundred day simple moving average of $16.24. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -8.51 and a beta of 1.61. Xerox Holdings Co. has a 1 year low of $12.06 and a 1 year high of $19.78.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Tuesday, April 23rd. The information technology services provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the business posted $0.49 EPS. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. As a group, analysts anticipate that Xerox Holdings Co. will post 2.16 EPS for the current year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.49%. The ex-dividend date of this dividend was Wednesday, March 27th. Xerox’s payout ratio is currently -63.69%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on XRX shares. StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. reduced their price objective on Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, April 24th.

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.