Point72 Asset Management L.P. Has $398,000 Position in Xerox Holdings Co. (NYSE:XRX)

Point72 Asset Management L.P. boosted its stake in Xerox Holdings Co. (NYSE:XRX) by 39.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,312 shares of the information technology services provider’s stock after purchasing an additional 10,794 shares during the quarter. Point72 Asset Management L.P.’s holdings in Xerox were worth $398,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. CWM LLC grew its holdings in shares of Xerox by 155.5% during the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 1,378 shares during the last quarter. Gladius Capital Management LP acquired a new position in Xerox during the 3rd quarter valued at about $29,000. US Bancorp DE increased its holdings in Xerox by 42.3% during the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after purchasing an additional 1,888 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Xerox in the second quarter worth approximately $78,000. Finally, Plato Investment Management Ltd boosted its position in shares of Xerox by 45.0% during the second quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock valued at $109,000 after buying an additional 2,899 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Stock Down 2.0 %

XRX opened at $8.68 on Friday. The company’s 50-day moving average price is $9.26 and its two-hundred day moving average price is $10.70. 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 twelve month low of $8.02 and a twelve month high of $19.78. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -0.79 and a beta of 1.59.

Xerox (NYSE:XRX) last issued its 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 firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. As a group, equities analysts expect that Xerox Holdings Co. will post 1.12 earnings per share for the current year.

Xerox Dividend Announcement

The firm 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 $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.52%. Xerox’s dividend payout ratio (DPR) is presently -9.06%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on XRX. Morgan Stanley dropped their price objective on 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. cut their price target on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $9.50.

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.