Engineers Gate Manager LP Reduces Holdings in Xerox Holdings Co. (NYSE:XRX)

Engineers Gate Manager LP reduced its position in Xerox Holdings Co. (NYSE:XRX – Get Rating) by 82.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 28,192 shares of the information technology services provider’s stock after selling 136,888 shares during the period. Engineers Gate Manager LP’s holdings in Xerox were worth $369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Fund Management S.A. grew its stake in Xerox by 221.1% in the 3rd quarter. Capital Fund Management S.A. now owns 118,992 shares of the information technology services provider’s stock worth $1,556,000 after acquiring an additional 81,940 shares during the period. Natixis purchased a new stake in Xerox in the 2nd quarter worth approximately $858,000. Verition Fund Management LLC purchased a new stake in Xerox in the 3rd quarter worth approximately $258,000. Sigma Planning Corp grew its stake in shares of Xerox by 73.3% during the 2nd quarter. Sigma Planning Corp now owns 35,747 shares of the information technology services provider’s stock valued at $531,000 after buying an additional 15,115 shares during the period. Finally, Captrust Financial Advisors grew its stake in shares of Xerox by 39.8% during the 2nd quarter. Captrust Financial Advisors now owns 7,716 shares of the information technology services provider’s stock valued at $117,000 after buying an additional 2,195 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on XRX shares. TheStreet raised shares of Xerox from a “d+” rating to a “c-” rating in a research note on Wednesday, February 1st. Loop Capital boosted their price objective on shares of Xerox from $15.00 to $17.00 in a research note on Monday, January 30th. Finally, StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a research note on Tuesday, January 31st. Four research analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. According to MarketBeat, Xerox currently has an average rating of “Reduce” and an average price target of $13.00.

Xerox Stock Performance

NYSE:XRX opened at $14.96 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -6.89 and a beta of 1.68. The firm’s fifty day simple moving average is $16.52 and its 200 day simple moving average is $15.71. Xerox Holdings Co. has a twelve month low of $11.80 and a twelve month high of $20.99.

Xerox (NYSE:XRX – Get Rating) last posted its earnings results on Thursday, January 26th. The information technology services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.35. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.90 billion. Xerox had a negative net margin of 4.53% and a positive return on equity of 5.15%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. As a group, equities research analysts expect that Xerox Holdings Co. will post 1.21 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Friday, March 31st will be issued a $0.25 dividend. The ex-dividend date is Thursday, March 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.68%. Xerox’s dividend payout ratio is currently -46.08%.

About Xerox

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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.