State of New Jersey Common Pension Fund D Trims Position in Xerox Holdings Co. (NYSE:XRX)

State of New Jersey Common Pension Fund D decreased its stake in shares of Xerox Holdings Co. (NYSE:XRXGet Rating) by 17.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 120,802 shares of the information technology services provider’s stock after selling 25,481 shares during the period. State of New Jersey Common Pension Fund D owned 0.08% of Xerox worth $2,437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quent Capital LLC acquired a new position in Xerox during the fourth quarter worth approximately $52,000. Fifth Third Bancorp increased its position in shares of Xerox by 100.1% in the fourth quarter. Fifth Third Bancorp now owns 3,134 shares of the information technology services provider’s stock worth $71,000 after acquiring an additional 1,568 shares in the last quarter. Covestor Ltd acquired a new stake in shares of Xerox in the fourth quarter worth $109,000. KBC Group NV acquired a new stake in shares of Xerox in the fourth quarter worth $287,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Xerox in the fourth quarter worth $305,000. Institutional investors and hedge funds own 87.00% of the company’s stock.

Insider Buying and Selling at Xerox

In other Xerox news, SVP Naresh Shanker sold 10,700 shares of the stock in a transaction on Friday, May 13th. The shares were sold at an average price of $17.16, for a total transaction of $183,612.00. Following the transaction, the senior vice president now directly owns 11,094 shares in the company, valued at approximately $190,373.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Xerox Price Performance

Shares of XRX stock opened at $16.98 on Wednesday. The company has a market capitalization of $2.63 billion, a PE ratio of -4.33 and a beta of 1.70. The firm has a fifty day simple moving average of $16.29 and a 200-day simple moving average of $18.43. The company has a current ratio of 1.20, a quick ratio of 0.98 and a debt-to-equity ratio of 0.71. Xerox Holdings Co. has a twelve month low of $13.24 and a twelve month high of $24.68.

Xerox (NYSE:XRXGet Rating) last announced its earnings results on Tuesday, July 26th. The information technology services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. Xerox had a negative net margin of 9.28% and a positive return on equity of 3.66%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm earned $0.47 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. Equities research analysts anticipate that Xerox Holdings Co. will post 1.13 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.00 dividend on an annualized basis and a yield of 5.89%. Xerox’s dividend payout ratio (DPR) is -25.51%.

Wall Street Analysts Forecast Growth

XRX has been the subject of several recent research reports. TheStreet lowered shares of Xerox from a “c-” rating to a “d+” rating in a research report on Thursday, July 7th. JPMorgan Chase & Co. dropped their price objective on shares of Xerox from $16.00 to $14.00 and set an “underweight” rating for the company in a research report on Thursday, July 14th. Citigroup dropped their price objective on shares of Xerox from $17.00 to $15.00 and set a “sell” rating for the company in a research report on Friday, April 22nd. Finally, Morgan Stanley restated a “maintains” rating on shares of Xerox in a research note on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $14.00.

Xerox Profile

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Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.

Further Reading

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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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