Texas Permanent School Fund Corp Sells 14,328 Shares of Xerox Holdings Co. (NYSE:XRX)

Texas Permanent School Fund Corp cut its position in Xerox Holdings Co. (NYSE:XRX) by 14.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,633 shares of the information technology services provider’s stock after selling 14,328 shares during the period. Texas Permanent School Fund Corp owned 0.07% of Xerox worth $983,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Xerox by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock worth $292,937,000 after acquiring an additional 190,034 shares in the last quarter. Caxton Associates LP boosted its stake in Xerox by 277.8% in the fourth quarter. Caxton Associates LP now owns 191,860 shares of the information technology services provider’s stock worth $3,517,000 after purchasing an additional 141,079 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Xerox in the first quarter valued at $1,206,000. Franklin Resources Inc. raised its holdings in shares of Xerox by 127.3% in the fourth quarter. Franklin Resources Inc. now owns 132,811 shares of the information technology services provider’s stock valued at $2,434,000 after buying an additional 74,382 shares during the last quarter. Finally, SG Capital Management LLC acquired a new position in Xerox during the 1st quarter worth about $8,466,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

XRX has been the subject of a number of research analyst reports. Loop Capital dropped their target price 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. Citigroup began coverage on shares of Xerox in a research report on Friday, June 28th. They issued a “sell” rating and a $11.00 price objective for the company. Finally, StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Xerox has a consensus rating of “Hold” and a consensus price target of $12.75.

Xerox Stock Down 3.4 %

Shares of NYSE XRX opened at $10.44 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $1.30 billion, a PE ratio of -6.65 and a beta of 1.57. The firm’s 50-day moving average is $10.69 and its 200-day moving average is $13.35. Xerox Holdings Co. has a 1 year low of $9.51 and a 1 year high of $19.78.

Xerox (NYSE:XRX) last issued its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 EPS 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 business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. The business’s revenue was down 10.0% on a year-over-year basis. Equities analysts expect that Xerox Holdings Co. will post 1.79 EPS for the current year.

Xerox Dividend Announcement

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

Xerox Company 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.