Edgestream Partners L.P. Has $1.75 Million Position in Xerox Holdings Co. (NYSE:XRX)

Edgestream Partners L.P. decreased its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 55.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 168,584 shares of the information technology services provider’s stock after selling 212,924 shares during the period. Edgestream Partners L.P. owned approximately 0.14% of Xerox worth $1,750,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. CWM LLC lifted its position 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 in the last quarter. Gladius Capital Management LP bought a new position in shares of Xerox in the third quarter valued at approximately $29,000. US Bancorp DE boosted its position 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. nVerses Capital LLC bought a new stake in Xerox during the second quarter worth $78,000. Finally, Plato Investment Management Ltd raised its position in Xerox by 45.0% in the 2nd quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock valued at $109,000 after buying an additional 2,899 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on XRX shares. JPMorgan Chase & Co. reduced their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a report on Wednesday. Loop Capital decreased their price target on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Finally, Morgan Stanley cut their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $9.50.

Xerox Price Performance

Shares of NYSE XRX opened at $8.85 on Wednesday. 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 fifty day simple moving average of $9.50 and a two-hundred day simple moving average of $10.94. Xerox Holdings Co. has a 1-year low of $8.02 and a 1-year high of $19.78. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -0.80 and a beta of 1.59.

Xerox (NYSE:XRX) last posted its quarterly 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). The firm had revenue of $1.53 billion for 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 company posted $0.46 EPS. Analysts anticipate that Xerox Holdings Co. will post 1.12 earnings per share for the current year.

Xerox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. 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 11.30%. Xerox’s dividend 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.