Connor Clark & Lunn Investment Management Ltd. Purchases New Position in Xerox Holdings Co. (NYSE:XRX)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Xerox Holdings Co. (NYSE:XRX) in the 3rd quarter, HoldingsChannel reports. The firm purchased 156,652 shares of the information technology services provider’s stock, valued at approximately $1,626,000.

Several other large investors also recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in shares of Xerox by 155.5% in the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 1,378 shares during the period. Gladius Capital Management LP bought a new stake in Xerox in the third quarter worth $29,000. EntryPoint Capital LLC bought a new position in Xerox during the first quarter valued at $45,000. US Bancorp DE raised its stake in shares of Xerox by 42.3% in the third 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. Finally, nVerses Capital LLC bought a new stake in shares of Xerox in the 2nd quarter worth about $78,000. 85.36% of the stock is owned by institutional investors.

Xerox Stock Up 1.3 %

Shares of NYSE:XRX opened at $9.16 on Tuesday. The business’s 50 day moving average is $9.64 and its 200 day moving average is $11.11. The stock has a market cap of $1.14 billion, a P/E ratio of -0.83 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 quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11.

Xerox (NYSE:XRX) last posted its quarterly earnings results 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). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the company posted $0.46 EPS. Xerox’s quarterly revenue was down 7.5% compared to the same quarter last year. Sell-side analysts predict that Xerox Holdings Co. will post 1.12 EPS for the current year.

Xerox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.92%. Xerox’s dividend payout ratio is presently -9.06%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on XRX shares. Loop Capital reduced their price objective on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. JPMorgan Chase & Co. dropped their price objective on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Finally, Morgan Stanley lowered their target price on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” 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.