Louisiana State Employees Retirement System Sells 1,600 Shares of Xerox Holdings Co. (NYSE:XRX)

Louisiana State Employees Retirement System reduced its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 2.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 55,900 shares of the information technology services provider’s stock after selling 1,600 shares during the period. Louisiana State Employees Retirement System’s holdings in Xerox were worth $580,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Sound Income Strategies LLC lifted its holdings in shares of Xerox by 27.9% during the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after acquiring an additional 225,617 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Xerox by 3.5% during the 1st quarter. Bridgeway Capital Management LLC now owns 986,682 shares of the information technology services provider’s stock worth $17,662,000 after acquiring an additional 33,590 shares during the last quarter. SG Capital Management LLC bought a new stake in shares of Xerox during the 1st quarter worth $8,466,000. Empowered Funds LLC lifted its holdings in shares of Xerox by 8.3% during the 1st quarter. Empowered Funds LLC now owns 446,810 shares of the information technology services provider’s stock worth $7,998,000 after acquiring an additional 34,219 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its holdings in shares of Xerox by 51.5% during the 2nd quarter. Edgestream Partners L.P. now owns 381,508 shares of the information technology services provider’s stock worth $4,433,000 after acquiring an additional 129,616 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Xerox Price Performance

XRX stock opened at $8.47 on Wednesday. The firm’s 50-day moving average price is $10.22 and its two-hundred day moving average price is $11.68. Xerox Holdings Co. has a 12-month low of $8.02 and a 12-month high of $19.78. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -0.77 and a beta of 1.59. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11.

Xerox (NYSE:XRX) last released its quarterly earnings data 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). Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. Xerox’s revenue was down 7.5% compared to the same quarter last year. As a group, equities analysts predict that Xerox Holdings Co. will post 1.55 earnings per share for the current year.

Xerox Announces Dividend

The company also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.81%. The ex-dividend date of this dividend is Tuesday, December 31st. Xerox’s payout ratio is -9.06%.

Analyst Ratings Changes

XRX has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Loop Capital decreased their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. JPMorgan Chase & Co. decreased their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Morgan Stanley decreased their target price on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $9.50.

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.