Quantbot Technologies LP Raises Position in Xerox Holdings Co. (NYSE:XRX)

Quantbot Technologies LP increased its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 63.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,054 shares of the information technology services provider’s stock after buying an additional 18,951 shares during the quarter. Quantbot Technologies LP’s holdings in Xerox were worth $878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Graham Capital Management L.P. purchased a new position in shares of Xerox in the 3rd quarter valued at approximately $336,000. Public Sector Pension Investment Board acquired a new position in Xerox during the 3rd quarter valued at approximately $2,194,000. American Century Companies Inc. lifted its stake in shares of Xerox by 520.9% during the third quarter. American Century Companies Inc. now owns 378,129 shares of the information technology services provider’s stock worth $5,933,000 after buying an additional 317,233 shares during the period. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Xerox by 93.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 38,481 shares of the information technology services provider’s stock valued at $604,000 after buying an additional 18,624 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Xerox by 10.2% in the 3rd quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock valued at $247,765,000 after acquiring an additional 1,464,851 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Xerox Price Performance

NYSE:XRX opened at $10.69 on Monday. The company has a 50 day moving average price of $13.15 and a 200-day moving average price of $15.73. Xerox Holdings Co. has a 1-year low of $10.28 and a 1-year high of $19.78. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -6.81 and a beta of 1.58. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.37 and a quick ratio of 1.07.

Xerox (NYSE:XRX) last posted its earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.29). The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The company’s revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. Equities research analysts forecast that Xerox Holdings Co. will post 2.05 EPS for the current year.

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.35%. The ex-dividend date of this dividend is Friday, June 28th. Xerox’s dividend payout ratio (DPR) is -63.69%.

Analyst Ratings Changes

XRX has been the subject of a number of research reports. Citigroup began coverage on Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 price target for the company. JPMorgan Chase & Co. dropped their target price on Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 24th. Finally, StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th.

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.