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

Quest Partners LLC cut its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 69.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,836 shares of the information technology services provider’s stock after selling 43,041 shares during the period. Quest Partners LLC’s holdings in Xerox were worth $196,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Gladius Capital Management LP acquired a new stake in Xerox during the third quarter worth approximately $29,000. Empowered Funds LLC lifted its position in Xerox by 4.8% during the third quarter. Empowered Funds LLC now owns 560,536 shares of the information technology services provider’s stock worth $5,818,000 after acquiring an additional 25,590 shares during the last quarter. Royce & Associates LP lifted its position 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 acquiring an additional 107,127 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Xerox by 10.0% in the third quarter. Victory Capital Management Inc. now owns 206,368 shares of the information technology services provider’s stock valued at $2,142,000 after buying an additional 18,819 shares in the last quarter. Finally, Verus Capital Partners LLC boosted its stake in shares of Xerox by 11.2% in the third quarter. Verus Capital Partners LLC now owns 76,708 shares of the information technology services provider’s stock valued at $796,000 after buying an additional 7,700 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Xerox Trading Down 0.2 %

Shares of XRX opened at $9.06 on Thursday. Xerox Holdings Co. has a 52-week low of $8.02 and a 52-week high of $19.78. The business’s fifty day moving average is $9.61 and its 200-day moving average is $11.08. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. The firm 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 issued 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 during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the business posted $0.46 EPS. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. Equities analysts anticipate that Xerox Holdings Co. will post 1.12 EPS for the current fiscal year.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 11.04%. Xerox’s payout ratio is -9.06%.

Analysts Set New Price Targets

A number of equities analysts have commented on XRX shares. Loop Capital lowered their price objective on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lowered their price objective on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley lowered 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. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.