Mutual of America Capital Management LLC Sells 12,122 Shares of Xerox Holdings Co. (NYSE:XRX)

Mutual of America Capital Management LLC reduced its position in Xerox Holdings Co. (NYSE:XRXGet Rating) by 10.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 99,817 shares of the information technology services provider’s stock after selling 12,122 shares during the period. Mutual of America Capital Management LLC’s holdings in Xerox were worth $1,482,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. IndexIQ Advisors LLC raised its holdings in shares of Xerox by 13.7% in the first quarter. IndexIQ Advisors LLC now owns 19,789 shares of the information technology services provider’s stock valued at $399,000 after acquiring an additional 2,389 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Xerox in the second quarter valued at about $346,000. AlphaCrest Capital Management LLC grew its stake in Xerox by 46.1% in the first quarter. AlphaCrest Capital Management LLC now owns 64,356 shares of the information technology services provider’s stock valued at $1,298,000 after purchasing an additional 20,298 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Xerox by 7.8% in the second quarter. Advisors Asset Management Inc. now owns 628,316 shares of the information technology services provider’s stock valued at $9,330,000 after purchasing an additional 45,339 shares during the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC grew its stake in Xerox by 41.4% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 69,635 shares of the information technology services provider’s stock valued at $1,233,000 after purchasing an additional 20,386 shares during the last quarter. 94.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. StockNews.com assumed coverage on Xerox in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Credit Suisse Group cut their target price on Xerox from $14.00 to $13.00 and set an “underperform” rating on the stock in a research note on Tuesday, October 18th. Morgan Stanley cut their target price on Xerox from $14.00 to $11.00 and set an “underweight” rating on the stock in a research note on Monday, October 17th. Finally, Citigroup dropped their price target on Xerox from $15.00 to $10.00 and set a “sell” rating on the stock in a research note on Wednesday, October 26th. Four investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $12.00.

Xerox Trading Up 2.0 %

Shares of Xerox stock opened at $15.75 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 0.82. Xerox Holdings Co. has a 12-month low of $11.80 and a 12-month high of $24.14. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -2.29 and a beta of 1.71. The firm’s 50 day simple moving average is $14.83 and its two-hundred day simple moving average is $16.09.

Xerox (NYSE:XRXGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The information technology services provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.76 billion. Xerox had a positive return on equity of 2.66% and a negative net margin of 16.10%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.48 EPS. Analysts predict that Xerox Holdings Co. will post 0.75 EPS for the current year.

Xerox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Saturday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date of this dividend is Thursday, December 29th. Xerox’s dividend payout ratio (DPR) is presently -14.53%.

Xerox Company 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.

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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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