Verus Capital Partners LLC Purchases 7,700 Shares of Xerox Holdings Co. (NYSE:XRX)

Verus Capital Partners LLC lifted its position in Xerox Holdings Co. (NYSE:XRX) by 11.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,708 shares of the information technology services provider’s stock after acquiring an additional 7,700 shares during the quarter. Verus Capital Partners LLC’s holdings in Xerox were worth $796,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Entropy Technologies LP raised its position in Xerox by 250.6% in the 3rd quarter. Entropy Technologies LP now owns 48,802 shares of the information technology services provider’s stock worth $507,000 after purchasing an additional 34,881 shares during the period. US Bancorp DE grew its stake in shares of Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after buying an additional 1,888 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Xerox by 42.7% in the third quarter. Nisa Investment Advisors LLC now owns 73,147 shares of the information technology services provider’s stock worth $778,000 after buying an additional 21,897 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Xerox by 24.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,600 shares of the information technology services provider’s stock worth $183,000 after acquiring an additional 3,444 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Xerox by 938.0% during the 3rd quarter. International Assets Investment Management LLC now owns 8,304 shares of the information technology services provider’s stock valued at $800,000 after acquiring an additional 7,504 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Xerox Stock Performance

Shares of XRX stock opened at $8.67 on Wednesday. The company’s 50 day moving average is $9.94 and its 200 day moving average is $11.42. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 8.69 and a beta of 1.59. Xerox Holdings Co. has a 52-week low of $8.02 and a 52-week high of $19.78.

Xerox (NYSE:XRX) last released its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.26). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. The company’s revenue was down 7.5% on a year-over-year basis. On average, sell-side analysts anticipate that Xerox Holdings Co. will post 1.38 EPS for the current fiscal year.

Xerox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.53%. The ex-dividend date is Tuesday, December 31st. Xerox’s dividend payout ratio is currently -9.06%.

Analyst Ratings Changes

A number of research firms have weighed in on XRX. Loop Capital reduced their target price on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley lowered their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.50.

Xerox Company Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.