Coastwise Capital Group LLC Boosts Stake in Xerox Holdings Co. (NYSE:XRX)

Coastwise Capital Group LLC lifted its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 13.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,075 shares of the information technology services provider’s stock after buying an additional 2,924 shares during the period. Coastwise Capital Group LLC’s holdings in Xerox were worth $250,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of XRX. Verition Fund Management LLC bought a new position in Xerox during the third quarter valued at approximately $625,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Xerox by 3.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 513,131 shares of the information technology services provider’s stock worth $5,326,000 after buying an additional 17,913 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of Xerox by 112.4% in the third quarter. Quantbot Technologies LP now owns 199,773 shares of the information technology services provider’s stock worth $2,074,000 after acquiring an additional 105,737 shares during the period. Dynamic Technology Lab Private Ltd increased its position in Xerox by 112.5% during the third quarter. Dynamic Technology Lab Private Ltd now owns 47,869 shares of the information technology services provider’s stock valued at $497,000 after acquiring an additional 25,339 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Xerox by 6.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock valued at $17,850,000 after acquiring an additional 107,580 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on XRX shares. Morgan Stanley reduced their price target on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. cut their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Finally, Loop Capital decreased their price objective on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.50.

Xerox Stock Up 0.9 %

Shares of XRX stock opened at $9.14 on Monday. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 8.87 and a beta of 1.59. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95. The company’s fifty day moving average price is $9.52 and its 200-day moving average price is $11.00. Xerox Holdings Co. has a one year low of $8.02 and a one year high of $19.78.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.26). Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Xerox’s revenue was down 7.5% on a year-over-year basis. Sell-side analysts expect that Xerox Holdings Co. will post 1.12 EPS for the current fiscal year.

Xerox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 10.94%. Xerox’s payout ratio is -9.06%.

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.