Dynamic Technology Lab Private Ltd Increases Stake in Xerox Holdings Co. (NYSE:XRX)

Dynamic Technology Lab Private Ltd increased its holdings in Xerox Holdings Co. (NYSE:XRX) by 112.5% in the third quarter, Holdings Channel.com reports. The firm owned 47,869 shares of the information technology services provider’s stock after acquiring an additional 25,339 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Xerox were worth $497,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. SummerHaven Investment Management LLC boosted its stake in shares of Xerox by 2.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 47,430 shares of the information technology services provider’s stock valued at $551,000 after purchasing an additional 1,110 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Xerox by 5.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 23,930 shares of the information technology services provider’s stock valued at $278,000 after buying an additional 1,327 shares during the period. CWM LLC boosted its position in Xerox by 155.5% during the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 1,378 shares during the period. Louisiana State Employees Retirement System boosted its position in Xerox by 2.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 57,500 shares of the information technology services provider’s stock valued at $668,000 after buying an additional 1,500 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Xerox by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 63,666 shares of the information technology services provider’s stock valued at $740,000 after buying an additional 1,627 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on XRX shares. JPMorgan Chase & Co. dropped their price target on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley decreased their price objective on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Finally, Loop Capital decreased their price objective on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.50.

Xerox Stock Up 0.9 %

Shares of Xerox stock opened at $9.14 on Friday. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95. The company has a 50-day moving average of $9.54 and a 200 day moving average of $11.05. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -0.83 and a beta of 1.59. Xerox Holdings Co. has a 1 year low of $8.02 and a 1 year high of $19.78.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.26). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The firm’s revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share. As a group, sell-side analysts anticipate that Xerox Holdings Co. will post 1.12 earnings per share for the current fiscal year.

Xerox Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.94%. Xerox’s dividend payout ratio is currently -9.06%.

About Xerox

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.