Segall Bryant & Hamill LLC Takes $1.63 Million Position in Xerox Holdings Co. $XRX

Segall Bryant & Hamill LLC bought a new stake in shares of Xerox Holdings Co. (NASDAQ:XRX) during the third quarter, HoldingsChannel.com reports. The fund bought 433,213 shares of the information technology services provider’s stock, valued at approximately $1,629,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Spire Wealth Management bought a new stake in shares of Xerox during the second quarter worth $31,000. Socha Financial Group LLC bought a new stake in Xerox during the 3rd quarter valued at about $43,000. R Squared Ltd purchased a new stake in Xerox in the 3rd quarter valued at about $53,000. Cidel Asset Management Inc. increased its position in shares of Xerox by 34.3% during the third quarter. Cidel Asset Management Inc. now owns 14,505 shares of the information technology services provider’s stock worth $55,000 after acquiring an additional 3,701 shares during the period. Finally, Captrust Financial Advisors bought a new stake in shares of Xerox during the second quarter valued at approximately $58,000. 85.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on XRX shares. Zacks Research cut Xerox from a “hold” rating to a “strong sell” rating in a report on Tuesday. Citigroup restated a “neutral” rating and set a $2.50 price target (down from $3.50) on shares of Xerox in a research note on Friday, January 30th. Finally, Weiss Ratings began coverage on Xerox in a report on Wednesday, January 28th. They issued a “sell (d-)” rating for the company. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell” and an average target price of $2.50.

Xerox Stock Performance

Shares of XRX stock opened at $1.74 on Friday. Xerox Holdings Co. has a 12-month low of $1.65 and a 12-month high of $6.81. The business’s fifty day simple moving average is $2.19 and its 200-day simple moving average is $2.89. The company has a current ratio of 1.12, a quick ratio of 0.80 and a debt-to-equity ratio of 8.94. The company has a market cap of $222.79 million, a PE ratio of -0.21 and a beta of 1.71.

Xerox (NASDAQ:XRX) last announced its earnings results on Thursday, January 29th. The information technology services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.25). Xerox had a negative net margin of 14.65% and a negative return on equity of 8.26%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the company earned $0.36 earnings per share. The company’s quarterly revenue was up 25.7% on a year-over-year basis. Analysts expect that Xerox Holdings Co. will post 1.07 earnings per share for the current fiscal year.

Xerox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a $0.025 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 5.7%. Xerox’s dividend payout ratio is presently -1.22%.

Xerox Company Profile

Xerox Holdings Corporation (NYSE: XRX) is a global provider of document management technology and services. The company designs and manufactures a broad range of multifunction printers, production printers, digital presses and related consumables. In addition to its hardware offerings, Xerox delivers software and workflow automation solutions, managed print services and cloud-based document platforms that help organizations optimize their information-intensive processes.

Founded in 1906 as The Haloid Photographic Company, Xerox pioneered xerographic imaging in the late 1940s, launching the first plain-paper copier in 1959.