Los Angeles Capital Management LLC Has $222,000 Stock Holdings in Xerox Holdings Co. (NYSE:XRX)

Los Angeles Capital Management LLC lowered its stake in Xerox Holdings Co. (NYSE:XRX) by 10.8% during the third quarter, HoldingsChannel.com reports. The firm owned 21,355 shares of the information technology services provider’s stock after selling 2,575 shares during the period. Los Angeles Capital Management LLC’s holdings in Xerox were worth $222,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in XRX. CWM LLC lifted its stake in Xerox by 155.5% in 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 period. EntryPoint Capital LLC bought a new stake in shares of Xerox in the 1st quarter valued at about $45,000. US Bancorp DE raised its position in shares of Xerox by 42.3% in the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after acquiring an additional 1,888 shares during the period. nVerses Capital LLC bought a new position in Xerox during the 2nd quarter worth approximately $78,000. Finally, Plato Investment Management Ltd grew its holdings in 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 purchasing an additional 2,899 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Xerox Price Performance

XRX stock opened at $8.31 on Tuesday. The stock has a 50-day moving average price of $9.78 and a two-hundred day moving average price of $11.27. Xerox Holdings Co. has a 1 year low of $8.02 and a 1 year high of $19.78. The stock has a market cap of $1.03 billion, a PE ratio of -0.75 and a beta of 1.59. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11.

Xerox (NYSE:XRX) last posted its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The firm’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. Equities analysts forecast that Xerox Holdings Co. will post 1.38 EPS for the current fiscal year.

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 12.03%. The ex-dividend date is Tuesday, December 31st. Xerox’s payout ratio is -9.06%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research report on Sunday. JPMorgan Chase & Co. reduced their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Loop Capital lowered their price target on 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 Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price 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.