JPMorgan Chase & Co. Increases Stock Position in Xerox Holdings Co. $XRX

JPMorgan Chase & Co. boosted its holdings in shares of Xerox Holdings Co. (NASDAQ:XRX) by 92.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,392,028 shares of the information technology services provider’s stock after buying an additional 669,810 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.09% of Xerox worth $5,234,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Captrust Financial Advisors purchased a new position in shares of Xerox in the 2nd quarter valued at $58,000. Socha Financial Group LLC purchased a new stake in shares of Xerox during the 3rd quarter worth $43,000. Boothbay Fund Management LLC bought a new stake in Xerox during the third quarter valued at about $43,000. Tower Research Capital LLC TRC grew its stake in Xerox by 189.8% in the second quarter. Tower Research Capital LLC TRC now owns 11,990 shares of the information technology services provider’s stock valued at $63,000 after purchasing an additional 7,852 shares during the last quarter. Finally, Laurion Capital Management LP bought a new position in Xerox in the third quarter worth about $46,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

XRX has been the subject of several analyst reports. Zacks Research lowered shares of Xerox from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. Citigroup reiterated a “neutral” rating and set a $2.50 price objective (down from $3.50) on shares of Xerox in a research note on Friday, January 30th. Finally, Weiss Ratings began coverage on shares of Xerox in a research note 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, Xerox has a consensus rating of “Sell” and a consensus target price of $2.50.

Xerox Trading Down 2.3%

Xerox stock opened at $1.26 on Thursday. The company has a debt-to-equity ratio of 8.94, a quick ratio of 0.79 and a current ratio of 1.11. The stock has a market cap of $162.06 million, a PE ratio of -0.15 and a beta of 1.80. The stock has a 50-day moving average of $1.82 and a two-hundred day moving average of $2.58. Xerox Holdings Co. has a one year low of $1.26 and a one year high of $6.80.

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

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.025 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.10 dividend on an annualized basis and a yield of 7.9%. Xerox’s dividend payout ratio is presently -1.22%.

Xerox 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.