Seven Eight Capital LP Decreases Stake in Xerox Holdings Co. (NYSE:XRX)

Seven Eight Capital LP lessened its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 29.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,863 shares of the information technology services provider’s stock after selling 25,903 shares during the period. Seven Eight Capital LP owned approximately 0.05% of Xerox worth $730,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bridgeway Capital Management LLC acquired a new position in shares of Xerox during the 4th quarter worth $17,470,000. Intrinsic Edge Capital Management LLC acquired a new position in Xerox during the fourth quarter worth about $14,832,000. Norges Bank acquired a new position in Xerox during the fourth quarter worth about $9,435,000. SG Capital Management LLC acquired a new stake in shares of Xerox during the 1st quarter valued at approximately $8,466,000. Finally, Mizuho Markets Americas LLC boosted its stake in shares of Xerox by 282.4% during the 2nd quarter. Mizuho Markets Americas LLC now owns 353,682 shares of the information technology services provider’s stock worth $4,110,000 after acquiring an additional 261,180 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup assumed coverage on Xerox in a report on Friday, June 28th. They issued a “sell” rating and a $11.00 price target on the stock. StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Finally, Loop Capital lowered their price objective on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research note 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.75.

Xerox Stock Performance

Xerox stock opened at $10.44 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.49. Xerox Holdings Co. has a fifty-two week low of $9.51 and a fifty-two week high of $19.78. The stock has a fifty day moving average of $10.68 and a two-hundred day moving average of $13.25. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -6.65 and a beta of 1.57.

Xerox (NYSE:XRX) last announced its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the firm posted $0.44 EPS. The company’s revenue for the quarter was down 10.0% compared to the same quarter last year. On average, analysts anticipate that Xerox Holdings Co. will post 1.79 EPS for the current fiscal year.

Xerox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 9.58%. Xerox’s dividend payout ratio (DPR) is currently -63.69%.

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.