Xerox Holdings Co. (NYSE:XRX) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in Xerox Holdings Co. (NYSE:XRX) by 24.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 595,153 shares of the information technology services provider’s stock after selling 196,466 shares during the period. JPMorgan Chase & Co. owned about 0.48% of Xerox worth $6,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in XRX. Pacer Advisors Inc. raised its holdings 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 valued at $176,140,000 after acquiring an additional 4,228,806 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of Xerox by 27.9% in the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock valued at $10,728,000 after purchasing an additional 225,617 shares during the last quarter. Barclays PLC raised its holdings in shares of Xerox by 55.5% in the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock valued at $4,869,000 after purchasing an additional 167,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Xerox during the 3rd quarter worth $1,626,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Xerox by 1,960.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 163,163 shares of the information technology services provider’s stock worth $1,694,000 after purchasing an additional 155,244 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley cut their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, December 26th. Finally, JPMorgan Chase & Co. decreased their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.50.

Xerox Stock Performance

NYSE XRX opened at $9.15 on Thursday. The company has a fifty day moving average of $8.78 and a two-hundred day moving average of $9.88. The company has a market capitalization of $1.14 billion, a PE ratio of -0.83 and a beta of 1.59. Xerox Holdings Co. has a 1 year low of $8.02 and a 1 year high of $19.78. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95.

Xerox (NYSE:XRX) last announced its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. As a group, analysts expect that Xerox Holdings Co. will post 1.12 earnings per share for the current year.

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued 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 dividend yield of 10.93%. Xerox’s 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.