Atom Investors LP Cuts Stake in Xerox Holdings Co. (NYSE:XRX)

Atom Investors LP cut its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 85.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,191 shares of the information technology services provider’s stock after selling 166,201 shares during the period. Atom Investors LP’s holdings in Xerox were worth $282,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CWM LLC boosted its position in shares of Xerox by 155.5% during the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 1,378 shares during the last quarter. Gladius Capital Management LP purchased a new stake in shares of Xerox during the third quarter valued at $29,000. US Bancorp DE boosted its position in shares of Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after buying an additional 1,888 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Xerox during the second quarter valued at $78,000. Finally, Plato Investment Management Ltd boosted its position in shares of Xerox by 45.0% during the second quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock valued at $109,000 after buying an additional 2,899 shares during the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley dropped their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. StockNews.com downgraded Xerox from a “buy” rating to a “hold” rating in a report on Wednesday. Loop Capital lowered their target price on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. lowered their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $9.50.

Xerox Stock Down 0.7 %

NYSE XRX opened at $8.79 on Thursday. The stock has a market cap of $1.09 billion, a PE ratio of -0.80 and a beta of 1.59. Xerox Holdings Co. has a 12 month low of $8.02 and a 12 month high of $19.78. The stock’s 50 day moving average is $9.47 and its 200 day moving average is $10.91. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11.

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

Xerox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 11.38%. The ex-dividend date of this dividend is Tuesday, December 31st. Xerox’s dividend payout ratio is currently -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.