Louisiana State Employees Retirement System Trims Stake in Xerox Holdings Co. (NYSE:XRX)

Louisiana State Employees Retirement System lowered its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,900 shares of the information technology services provider’s stock after selling 1,600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Xerox were worth $580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC boosted its stake 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 bought a new stake in Xerox during the first quarter worth about $45,000. Plato Investment Management Ltd bought a new stake in Xerox during the first quarter worth about $115,000. nVerses Capital LLC bought a new stake in Xerox during the second quarter worth about $78,000. Finally, International Assets Investment Management LLC boosted its stake in Xerox by 938.0% during the third quarter. International Assets Investment Management LLC now owns 8,304 shares of the information technology services provider’s stock worth $800,000 after acquiring an additional 7,504 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on XRX shares. Loop Capital dropped their price objective on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Morgan Stanley dropped their target price on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. dropped their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, Xerox currently has an average rating of “Reduce” and a consensus price target of $9.50.

Xerox Trading Up 1.0 %

Shares of NYSE XRX opened at $8.47 on Wednesday. The firm’s 50 day moving average price is $10.22 and its 200-day moving average price is $11.68. The company has a market cap of $1.05 billion, a PE ratio of -0.77 and a beta of 1.59. Xerox Holdings Co. has a 52-week low of $8.02 and a 52-week high of $19.78. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter last year, the company earned $0.46 EPS. On average, equities research analysts expect that Xerox Holdings Co. will post 1.55 EPS for the current fiscal year.

Xerox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 11.81%. Xerox’s dividend payout ratio (DPR) is -9.06%.

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.