Stifel Financial Corp Grows Stake in Xerox Holdings Co. (NYSE:XRX)

Stifel Financial Corp raised its holdings in Xerox Holdings Co. (NYSE:XRX) by 44.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 152,380 shares of the information technology services provider’s stock after buying an additional 46,708 shares during the quarter. Stifel Financial Corp owned about 0.12% of Xerox worth $1,582,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of XRX. Los Angeles Capital Management LLC lifted its stake in shares of Xerox by 5.9% during the second quarter. Los Angeles Capital Management LLC now owns 23,930 shares of the information technology services provider’s stock worth $278,000 after buying an additional 1,327 shares during the period. CWM LLC lifted its holdings in shares of Xerox by 155.5% during the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 1,378 shares during the period. Louisiana State Employees Retirement System boosted its position in Xerox by 2.7% in the second 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 last quarter. The Manufacturers Life Insurance Company raised 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 worth $740,000 after buying an additional 1,627 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Xerox by 42.3% in the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after acquiring an additional 1,888 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on XRX shares. StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. 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 research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their price objective on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Xerox presently has a consensus rating of “Hold” and an average target price of $9.50.

Xerox Trading Down 1.5 %

Shares of Xerox stock opened at $8.39 on Friday. The stock has a 50 day moving average of $9.09 and a 200 day moving average of $10.52. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -0.76 and a beta of 1.59. Xerox Holdings Co. has a fifty-two week low of $8.02 and a fifty-two week high of $19.78.

Xerox (NYSE:XRX) last released its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. As a group, research analysts predict that Xerox Holdings Co. will post 1.12 earnings per share for the current year.

Xerox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 11.92%. Xerox’s dividend payout ratio is presently -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.