Bridgefront Capital LLC Acquires 965 Shares of Xerox Holdings Co. (NYSE:XRX)

Bridgefront Capital LLC boosted its holdings in shares of Xerox Holdings Co. (NYSE:XRX – Get Rating) by 8.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,648 shares of the information technology services provider’s stock after buying an additional 965 shares during the quarter. Bridgefront Capital LLC’s holdings in Xerox were worth $165,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. SeaCrest Wealth Management LLC bought a new position in shares of Xerox in the second quarter worth approximately $31,000. Quadrant Capital Group LLC boosted its position in shares of Xerox by 654.8% in the third quarter. Quadrant Capital Group LLC now owns 2,219 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 1,925 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Xerox in the third quarter worth approximately $48,000. Lazard Asset Management LLC boosted its position in shares of Xerox by 64.4% in the third quarter. Lazard Asset Management LLC now owns 5,421 shares of the information technology services provider’s stock worth $70,000 after purchasing an additional 2,123 shares during the period. Finally, Captrust Financial Advisors boosted its position in shares of Xerox by 34.7% in the first quarter. Captrust Financial Advisors now owns 5,521 shares of the information technology services provider’s stock worth $113,000 after purchasing an additional 1,422 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. TheStreet upgraded shares of Xerox from a “d+” rating to a “c-” rating in a research report on Wednesday, February 1st. Loop Capital upped their target price on shares of Xerox from $15.00 to $17.00 in a research report on Monday, January 30th. Finally, StockNews.com started coverage on shares of Xerox in a research report on Thursday. They set a “buy” rating for the company. Four research analysts have rated the stock with a sell rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $13.00.

Xerox Price Performance

Xerox stock opened at $14.62 on Friday. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 13.76 and a beta of 1.68. The firm’s fifty day moving average is $16.51 and its 200 day moving average is $15.67. The company has a quick ratio of 0.99, a current ratio of 1.23 and a debt-to-equity ratio of 0.85. Xerox Holdings Co. has a 52-week low of $11.80 and a 52-week high of $20.99.

Xerox (NYSE:XRX – Get Rating) last announced 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. Xerox had a negative net margin of 4.53% and a positive return on equity of 5.15%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. Sell-side analysts forecast that Xerox Holdings Co. will post 1.21 EPS for the current fiscal year.

Xerox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Friday, March 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.84%. The ex-dividend date of this dividend is Thursday, March 30th. Xerox’s dividend payout ratio is currently -46.08%.

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.