Victory Capital Management Inc. Has $2.14 Million Position in Xerox Holdings Co. (NYSE:XRX)

Victory Capital Management Inc. grew its stake in Xerox Holdings Co. (NYSE:XRX) by 10.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,368 shares of the information technology services provider’s stock after acquiring an additional 18,819 shares during the period. Victory Capital Management Inc. owned 0.17% of Xerox worth $2,142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CWM LLC raised its position in Xerox by 155.5% during the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 1,378 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Xerox in the 1st quarter valued at about $45,000. US Bancorp DE increased its position in Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after buying an additional 1,888 shares during the last quarter. nVerses Capital LLC bought a new stake in Xerox in the second quarter valued at approximately $78,000. Finally, Plato Investment Management Ltd lifted its position in shares of Xerox by 45.0% in the second quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock valued at $109,000 after buying an additional 2,899 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Stock Up 3.3 %

Shares of XRX opened at $9.04 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11. The stock has a market capitalization of $1.12 billion, a PE ratio of -0.82 and a beta of 1.59. The firm’s 50 day moving average is $9.66 and its 200-day moving average is $11.14. Xerox Holdings Co. has a 12 month low of $8.02 and a 12 month high of $19.78.

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 positive return on equity of 6.60% and a negative net margin of 21.31%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the company earned $0.46 earnings per share. Xerox’s revenue for the quarter was down 7.5% compared to the same quarter last year. Equities research analysts forecast that Xerox Holdings Co. will post 1.12 EPS for the current year.

Xerox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 11.06%. The ex-dividend date is Tuesday, December 31st. Xerox’s dividend payout ratio (DPR) is presently -9.06%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on XRX shares. JPMorgan Chase & Co. dropped their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Loop Capital reduced their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Morgan Stanley lowered their price target on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a report on Sunday, November 17th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, Xerox currently has a consensus rating of “Reduce” and an average target price of $9.50.

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.