Guggenheim Capital LLC cut its position in Xerox Holdings Co. (NYSE:XRX – Get Rating) by 9.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,027 shares of the information technology services provider’s stock after selling 9,798 shares during the quarter. Guggenheim Capital LLC owned about 0.06% of Xerox worth $1,204,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in XRX. Icahn Carl C boosted its stake in shares of Xerox by 6.6% in the second quarter. Icahn Carl C now owns 34,245,314 shares of the information technology services provider’s stock valued at $508,543,000 after buying an additional 2,130,423 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Xerox by 256.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,997,708 shares of the information technology services provider’s stock valued at $29,665,000 after acquiring an additional 1,436,711 shares during the period. State Street Corp increased its position in shares of Xerox by 14.8% in the second quarter. State Street Corp now owns 4,706,349 shares of the information technology services provider’s stock worth $71,049,000 after purchasing an additional 607,148 shares during the period. Northern Trust Corp raised its stake in Xerox by 45.5% in the second quarter. Northern Trust Corp now owns 1,542,673 shares of the information technology services provider’s stock valued at $22,908,000 after purchasing an additional 482,478 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in Xerox during the first quarter worth about $9,659,000. 81.66% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
XRX has been the subject of several analyst reports. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research report on Tuesday, January 31st. TheStreet upgraded Xerox from a “d+” rating to a “c-” rating in a research note on Wednesday, February 1st. Finally, Loop Capital lifted their price target on Xerox from $15.00 to $17.00 in a research note on Monday, January 30th. Four investment analysts have rated the stock with a sell rating and one has given a buy rating to the company. According to data from MarketBeat, Xerox presently has a consensus rating of “Reduce” and an average target price of $13.00.
Xerox Price Performance
Xerox (NYSE:XRX – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The information technology services provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.35. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Xerox had a positive return on equity of 5.15% and a negative net margin of 4.53%. Xerox’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 EPS. Research analysts anticipate that Xerox Holdings Co. will post 1.21 EPS for the current fiscal year.
Xerox Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Friday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.98%. The ex-dividend date of this dividend is Thursday, March 30th. Xerox’s dividend payout ratio (DPR) is currently -46.08%.
Xerox Company Profile
Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.
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