Xerox Holdings Co. (NYSE:XRX) Stock Position Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in Xerox Holdings Co. (NYSE:XRX) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,719,607 shares of the information technology services provider’s stock after buying an additional 107,580 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.38% of Xerox worth $17,850,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in XRX. Pacer Advisors Inc. grew its position in Xerox by 33.2% in the third quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock worth $176,140,000 after acquiring an additional 4,228,806 shares in the last quarter. Mizuho Markets Americas LLC boosted its holdings in Xerox by 282.4% in the second quarter. Mizuho Markets Americas LLC now owns 353,682 shares of the information technology services provider’s stock worth $4,110,000 after purchasing an additional 261,180 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in Xerox by 27.9% in the third quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after purchasing an additional 225,617 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Xerox in the third quarter worth about $1,626,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Xerox by 1,960.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 163,163 shares of the information technology services provider’s stock worth $1,694,000 after acquiring an additional 155,244 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Trading Down 1.3 %

Shares of Xerox stock opened at $8.60 on Friday. Xerox Holdings Co. has a 1 year low of $8.02 and a 1 year high of $19.78. The company’s fifty day simple moving average is $9.37 and its 200-day simple moving average is $10.84. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -0.78 and a beta of 1.59. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11.

Xerox (NYSE:XRX) last posted its quarterly earnings data 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). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The company 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 firm posted $0.46 EPS. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, sell-side analysts expect that Xerox Holdings Co. will post 1.12 EPS for the current year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.63%. The ex-dividend date is Tuesday, December 31st. Xerox’s dividend payout ratio is presently -9.06%.

Wall Street Analysts Forecast Growth

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

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.