Xerox Holdings Co. (NYSE:XRX) Position Reduced by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 39.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,868 shares of the information technology services provider’s stock after selling 24,372 shares during the quarter. Truist Financial Corp’s holdings in Xerox were worth $428,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in XRX. CWM LLC boosted its stake in Xerox by 155.5% during the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 1,378 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Xerox during the first quarter worth $45,000. nVerses Capital LLC acquired a new stake in shares of Xerox during the second quarter worth $78,000. Plato Investment Management Ltd raised its holdings in shares of Xerox by 45.0% during the second quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock worth $109,000 after purchasing an additional 2,899 shares during the period. Finally, Innealta Capital LLC acquired a new stake in shares of Xerox during the second quarter worth $115,000. 85.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

XRX has been the topic of a number of research reports. StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Citigroup initiated coverage on shares of Xerox in a report on Friday, June 28th. They set a “sell” rating and a $11.00 target price on the stock. Finally, Loop Capital dropped their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.75.

Xerox Stock Up 1.2 %

XRX stock opened at $10.48 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.34. Xerox Holdings Co. has a fifty-two week low of $9.51 and a fifty-two week high of $19.78. The firm’s 50-day simple moving average is $10.40 and its 200 day simple moving average is $12.40. The stock has a market cap of $1.30 billion, a PE ratio of -9.98 and a beta of 1.57.

Xerox (NYSE:XRX) last released 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). Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the business earned $0.44 EPS. The firm’s revenue was down 10.0% on a year-over-year basis. As a group, sell-side analysts predict 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 paid a dividend of $0.25 per share. The ex-dividend date is Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 9.54%. Xerox’s payout ratio is -95.24%.

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.