Truist Financial Corp Sells 4,834 Shares of Xerox Holdings Co. (NYSE:XRX)

Truist Financial Corp lowered its position in shares of Xerox Holdings Co. (NYSE:XRXGet Rating) by 13.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,264 shares of the information technology services provider’s stock after selling 4,834 shares during the period. Truist Financial Corp’s holdings in Xerox were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in XRX. Icahn Carl C increased its position in shares of Xerox by 6.6% during the second quarter. Icahn Carl C now owns 34,245,314 shares of the information technology services provider’s stock valued at $508,543,000 after acquiring an additional 2,130,423 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Xerox by 256.1% during the second quarter. JPMorgan Chase & Co. now owns 1,997,708 shares of the information technology services provider’s stock valued at $29,665,000 after acquiring an additional 1,436,711 shares in the last quarter. State Street Corp increased its position in shares of Xerox by 14.8% during the second quarter. State Street Corp now owns 4,706,349 shares of the information technology services provider’s stock valued at $71,049,000 after acquiring an additional 607,148 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Xerox by 135.0% during the second quarter. Russell Investments Group Ltd. now owns 922,541 shares of the information technology services provider’s stock valued at $13,697,000 after acquiring an additional 529,966 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Xerox by 45.5% during the second quarter. Northern Trust Corp now owns 1,542,673 shares of the information technology services provider’s stock valued at $22,908,000 after acquiring an additional 482,478 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Xerox Trading Up 1.3 %

Shares of Xerox stock opened at $17.28 on Wednesday. The company’s fifty day simple moving average is $15.74 and its 200-day simple moving average is $15.77. The stock has a market capitalization of $2.69 billion, a PE ratio of -2.51 and a beta of 1.72. Xerox Holdings Co. has a 1-year low of $11.80 and a 1-year high of $23.25. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 0.93.

Xerox (NYSE:XRXGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The information technology services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.18). Xerox had a positive return on equity of 2.66% and a negative net margin of 16.10%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the business earned $0.48 EPS. The company’s revenue was down .4% compared to the same quarter last year. As a group, equities analysts anticipate that Xerox Holdings Co. will post 0.75 earnings per share for the current year.

Insider Activity at Xerox

In other news, Director Hernandez Margarita Palau bought 10,000 shares of the stock in a transaction that occurred on Tuesday, November 29th. The shares were bought at an average price of $15.55 per share, for a total transaction of $155,500.00. Following the purchase, the director now owns 15,500 shares in the company, valued at $241,025. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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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