Plato Investment Management Ltd Sells 2,899 Shares of Xerox Holdings Co. (NYSE:XRX)

Plato Investment Management Ltd cut its stake in Xerox Holdings Co. (NYSE:XRX) by 31.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,447 shares of the information technology services provider’s stock after selling 2,899 shares during the quarter. Plato Investment Management Ltd’s holdings in Xerox were worth $67,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. CWM LLC raised its holdings in Xerox by 155.5% in the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 1,378 shares during the period. EntryPoint Capital LLC acquired a new stake in Xerox during the 1st quarter worth approximately $45,000. US Bancorp DE boosted its stake in Xerox by 42.3% in the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after purchasing an additional 1,888 shares during the period. nVerses Capital LLC acquired a new position in Xerox in the 2nd quarter valued at $78,000. Finally, Innealta Capital LLC bought a new position in Xerox during the 2nd quarter worth $115,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

XRX has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Loop Capital lowered their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Finally, Morgan Stanley lowered their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.50.

Xerox Price Performance

Shares of NYSE:XRX opened at $8.43 on Friday. The firm has a 50 day moving average of $9.82 and a 200-day moving average of $11.33. Xerox Holdings Co. has a 12 month low of $8.02 and a 12 month high of $19.78. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11. The stock has a market capitalization of $1.05 billion, a PE ratio of 8.15 and a beta of 1.59.

Xerox (NYSE:XRX) last released its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share 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 business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, equities research analysts predict that Xerox Holdings Co. will post 1.38 EPS for the current fiscal year.

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 11.86%. The ex-dividend date is Tuesday, December 31st. Xerox’s payout ratio is -9.06%.

Xerox 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.