Quest Partners LLC Has $196,000 Holdings in Xerox Holdings Co. (NYSE:XRX)

Quest Partners LLC lessened its stake in Xerox Holdings Co. (NYSE:XRX) by 69.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,836 shares of the information technology services provider’s stock after selling 43,041 shares during the quarter. Quest Partners LLC’s holdings in Xerox were worth $196,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Capital Management LLC acquired a new position in shares of Xerox in the first quarter valued at approximately $8,466,000. AQR Capital Management LLC boosted its holdings in Xerox by 75.2% during the second quarter. AQR Capital Management LLC now owns 179,118 shares of the information technology services provider’s stock worth $2,081,000 after purchasing an additional 76,886 shares during the last quarter. Royce & Associates LP boosted its holdings in Xerox by 16.9% during the third quarter. Royce & Associates LP now owns 742,189 shares of the information technology services provider’s stock worth $7,704,000 after purchasing an additional 107,127 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in Xerox by 27.9% during the third quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after purchasing an additional 225,617 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Xerox by 1,960.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 163,163 shares of the information technology services provider’s stock worth $1,694,000 after purchasing an additional 155,244 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Stock Performance

XRX opened at $9.06 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11. Xerox Holdings Co. has a 12-month low of $8.02 and a 12-month high of $19.78. The business has a 50 day moving average of $9.61 and a 200-day moving average of $11.08. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -0.82 and a beta of 1.59.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.26). Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the business earned $0.46 EPS. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. On average, equities research analysts expect that Xerox Holdings Co. will post 1.12 earnings per share for the current year.

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 11.04%. Xerox’s dividend payout ratio (DPR) is currently -9.06%.

Analyst Ratings Changes

Several brokerages recently commented on XRX. JPMorgan Chase & Co. reduced their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a report on Tuesday. 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. Finally, Morgan Stanley dropped their price target on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.50.

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.