Los Angeles Capital Management LLC Acquires 1,327 Shares of Xerox Holdings Co. (NYSE:XRX)

Los Angeles Capital Management LLC grew its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,930 shares of the information technology services provider’s stock after purchasing an additional 1,327 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Xerox were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Xerox by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock valued at $292,937,000 after purchasing an additional 190,034 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Xerox by 10.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,587,041 shares of the information technology services provider’s stock worth $29,090,000 after acquiring an additional 153,144 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Xerox by 1.5% during the 4th quarter. Allianz Asset Management GmbH now owns 1,044,971 shares of the information technology services provider’s stock worth $19,154,000 after acquiring an additional 15,408 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in 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. Finally, Intrinsic Edge Capital Management LLC acquired a new position in Xerox during the 4th quarter worth $14,832,000. Institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on XRX. StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Citigroup began coverage on shares of Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 target price for the company. Finally, Loop Capital cut their price objective on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.75.

Xerox Stock Up 3.3 %

Shares of XRX opened at $10.43 on Monday. The company has a 50-day simple moving average of $10.70 and a 200-day simple moving average of $13.51. The firm has a market capitalization of $1.30 billion, a P/E ratio of -6.64 and a beta of 1.57. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.49. Xerox Holdings Co. has a 52 week low of $9.51 and a 52 week high of $19.78.

Xerox (NYSE:XRX) last posted its earnings results 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 business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The business’s revenue was down 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. On average, equities research analysts expect that Xerox Holdings Co. will post 1.79 earnings per share for the current year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid 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 9.59%. Xerox’s payout ratio is currently -63.69%.

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.