Texas Permanent School Fund Sells 6,031 Shares of Xerox Holdings Co. (NYSE:XRX)

Texas Permanent School Fund lowered its holdings in Xerox Holdings Co. (NYSE:XRXGet Rating) by 7.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 80,415 shares of the information technology services provider’s stock after selling 6,031 shares during the quarter. Texas Permanent School Fund owned approximately 0.05% of Xerox worth $1,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Truist Financial Corp lifted its holdings in Xerox by 2.7% in the 2nd quarter. Truist Financial Corp now owns 37,098 shares of the information technology services provider’s stock worth $551,000 after buying an additional 973 shares during the period. Yousif Capital Management LLC lifted its holdings in Xerox by 1.8% in the 2nd quarter. Yousif Capital Management LLC now owns 78,411 shares of the information technology services provider’s stock worth $1,164,000 after buying an additional 1,360 shares during the period. Captrust Financial Advisors lifted its holdings in Xerox by 34.7% in the 1st quarter. Captrust Financial Advisors now owns 5,521 shares of the information technology services provider’s stock worth $113,000 after buying an additional 1,422 shares during the period. ARK Investment Management LLC lifted its holdings in Xerox by 10.8% in the 3rd quarter. ARK Investment Management LLC now owns 16,080 shares of the information technology services provider’s stock worth $210,000 after buying an additional 1,571 shares during the period. Finally, US Bancorp DE lifted its holdings in Xerox by 24.4% in the 1st quarter. US Bancorp DE now owns 8,232 shares of the information technology services provider’s stock worth $167,000 after buying an additional 1,615 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Xerox

In other Xerox news, Director Hernandez Margarita Palau bought 10,000 shares of Xerox stock in a transaction on Tuesday, November 29th. The stock was acquired at an average price of $15.55 per share, with a total value of $155,500.00. Following the acquisition, the director now owns 15,500 shares in the company, valued at $241,025. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

Xerox Stock Up 1.1 %

Shares of NYSE:XRX opened at $16.73 on Friday. The stock has a fifty day simple moving average of $15.49 and a two-hundred day simple moving average of $15.64. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -2.43 and a beta of 1.72. Xerox Holdings Co. has a 12-month low of $11.80 and a 12-month high of $23.92. 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 (NYSE:XRXGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The information technology services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.18). The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Xerox had a negative net margin of 16.10% and a positive return on equity of 2.66%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 EPS. On average, research analysts anticipate that Xerox Holdings Co. will post 0.75 earnings per share for the current fiscal year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Saturday, December 31st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date of this dividend is Thursday, December 29th. Xerox’s payout ratio is -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.

Further Reading

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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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