Victory Capital Management Inc. Raises Position in Xerox Holdings Co. (NYSE:XRX)

Victory Capital Management Inc. grew its holdings in Xerox Holdings Co. (NYSE:XRX) by 20.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,549 shares of the information technology services provider’s stock after acquiring an additional 31,779 shares during the period. Victory Capital Management Inc.’s holdings in Xerox were worth $2,179,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in 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 worth $292,937,000 after purchasing an additional 190,034 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Xerox by 10.7% during the fourth 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 buying an additional 153,144 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Xerox by 1.5% during the fourth quarter. Allianz Asset Management GmbH now owns 1,044,971 shares of the information technology services provider’s stock worth $19,154,000 after buying an additional 15,408 shares during the period. Bridgeway Capital Management LLC lifted its stake in Xerox by 3.5% in the first 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 approximately $14,832,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on XRX shares. Loop Capital reduced their price objective 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. Citigroup initiated coverage on Xerox in a report on Friday, June 28th. They set a “sell” rating and a $11.00 price target for the company. Finally, StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Xerox presently has an average rating of “Hold” and a consensus price target of $12.75.

Xerox Price Performance

Shares of NYSE:XRX opened at $10.38 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.49 and a quick ratio of 1.13. Xerox Holdings Co. has a 12 month low of $9.51 and a 12 month high of $19.78. The firm has a market capitalization of $1.29 billion, a P/E ratio of -6.61 and a beta of 1.57. The company’s fifty day moving average price is $10.69 and its 200 day moving average price is $13.45.

Xerox (NYSE:XRX) last posted its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The firm’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. As a group, sell-side analysts predict that Xerox Holdings Co. will post 1.79 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.63%. Xerox’s dividend payout ratio (DPR) is presently -63.69%.

Xerox Company 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.