Quest Partners LLC Buys Shares of 21,332 Xerox Holdings Co. (NYSE:XRX)

Quest Partners LLC purchased a new position in shares of Xerox Holdings Co. (NYSE:XRX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,332 shares of the information technology services provider’s stock, valued at approximately $391,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in Xerox during the fourth quarter valued at $25,000. FNY Investment Advisers LLC purchased a new stake in shares of Xerox during the 4th quarter valued at $25,000. Hexagon Capital Partners LLC raised its stake in Xerox by 38.7% in the 4th quarter. Hexagon Capital Partners LLC now owns 2,257 shares of the information technology services provider’s stock worth $41,000 after acquiring an additional 630 shares during the last quarter. International Assets Investment Management LLC raised its stake in Xerox by 1,733.2% in the 4th quarter. International Assets Investment Management LLC now owns 4,583 shares of the information technology services provider’s stock worth $84,000 after acquiring an additional 4,333 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. grew its position in shares of Xerox by 5,572.3% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 8,395 shares of the information technology services provider’s stock valued at $132,000 after acquiring an additional 8,247 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

XRX has been the subject of several analyst reports. StockNews.com downgraded Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. decreased their price objective on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, April 24th.

Xerox Stock Up 0.4 %

Shares of XRX traded up $0.06 during midday trading on Friday, reaching $13.86. 911,811 shares of the stock were exchanged, compared to its average volume of 1,720,112. The company has a current ratio of 1.37, a quick ratio of 1.07 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $1.72 billion, a P/E ratio of -8.83 and a beta of 1.61. Xerox Holdings Co. has a 52 week low of $12.06 and a 52 week high of $19.78. The company’s 50 day moving average is $15.52 and its two-hundred day moving average is $16.29.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (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 firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. The business’s revenue was down 12.8% on a year-over-year basis. On average, sell-side analysts anticipate that Xerox Holdings Co. will post 2.09 earnings per share for the current year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.22%. The ex-dividend date of this dividend is Friday, June 28th. Xerox’s payout ratio is currently -63.69%.

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.