Paradigm Capital Management Inc. NY Purchases New Shares in Xerox Holdings Co. (NYSE:XRX)

Paradigm Capital Management Inc. NY acquired a new stake in Xerox Holdings Co. (NYSE:XRX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 20,000 shares of the information technology services provider’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in XRX. Magnetar Financial LLC bought a new stake in shares of Xerox in the second quarter valued at approximately $250,000. Public Sector Pension Investment Board raised its holdings in Xerox by 8.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 251,380 shares of the information technology services provider’s stock valued at $2,921,000 after acquiring an additional 19,611 shares in the last quarter. Sei Investments Co. lifted its position in shares of Xerox by 81.8% during the 2nd quarter. Sei Investments Co. now owns 121,663 shares of the information technology services provider’s stock valued at $1,414,000 after acquiring an additional 54,748 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Xerox by 67.9% during the 2nd quarter. Hsbc Holdings PLC now owns 79,929 shares of the information technology services provider’s stock worth $934,000 after purchasing an additional 32,325 shares in the last quarter. Finally, Edgestream Partners L.P. increased its position in shares of Xerox by 51.5% in the second quarter. Edgestream Partners L.P. now owns 381,508 shares of the information technology services provider’s stock worth $4,433,000 after purchasing an additional 129,616 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Stock Performance

Shares of Xerox stock opened at $10.17 on Tuesday. The company’s 50 day moving average price is $10.66 and its two-hundred day moving average price is $13.18. The firm has a market capitalization of $1.26 billion, a P/E ratio of -6.48 and a beta of 1.57. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.49 and a quick ratio of 1.13. Xerox Holdings Co. has a fifty-two week low of $9.51 and a fifty-two week high of $19.78.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The company’s revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. On average, equities analysts forecast that Xerox Holdings Co. will post 1.79 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 9.83%. Xerox’s dividend payout ratio (DPR) is presently -63.69%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Citigroup started coverage on shares of Xerox in a research note on Friday, June 28th. They issued a “sell” rating and a $11.00 price objective on the stock. Finally, Loop Capital cut their target price on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.75.

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.