Allspring Global Investments Holdings LLC Has $1.69 Million Stake in Xerox Holdings Co. (NYSE:XRX)

Allspring Global Investments Holdings LLC lifted its holdings in Xerox Holdings Co. (NYSE:XRX) by 1,960.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,163 shares of the information technology services provider’s stock after acquiring an additional 155,244 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.13% of Xerox worth $1,694,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Creative Planning bought a new position in shares of Xerox in the 3rd quarter valued at about $225,000. Wedge Capital Management L L P NC boosted its stake in Xerox by 21.4% in the third quarter. Wedge Capital Management L L P NC now owns 193,994 shares of the information technology services provider’s stock valued at $2,014,000 after acquiring an additional 34,216 shares during the last quarter. Sound Income Strategies LLC grew its holdings in Xerox by 27.9% during the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after acquiring an additional 225,617 shares during the period. CWM LLC raised its position in shares of Xerox by 381.3% during the 3rd quarter. CWM LLC now owns 10,897 shares of the information technology services provider’s stock valued at $113,000 after acquiring an additional 8,633 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Xerox by 21.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 49,881 shares of the information technology services provider’s stock valued at $580,000 after purchasing an additional 8,736 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on XRX shares. Loop Capital lowered their price target on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. decreased their price target on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday. Finally, Morgan Stanley dropped 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. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Xerox has a consensus rating of “Hold” and an average target price of $9.50.

Xerox Stock Down 3.1 %

Shares of NYSE XRX opened at $8.23 on Thursday. The stock has a market capitalization of $1.02 billion, a P/E ratio of -7.84 and a beta of 1.57. The stock’s fifty day moving average is $10.37 and its 200 day moving average is $11.88. Xerox Holdings Co. has a 52 week low of $8.02 and a 52 week high of $19.78. 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 (NYSE:XRX) last issued its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.28). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.63 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The firm’s revenue was down 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 EPS. Sell-side analysts forecast that Xerox Holdings Co. will post 1.72 earnings per share for the current fiscal year.

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.