JPMorgan Chase & Co. decreased its position in shares of Xerox Holdings Co. (NYSE:XRX – Get Rating) by 2.2% during the fourth quarter, HoldingsChannel reports. The fund owned 1,898,259 shares of the information technology services provider’s stock after selling 43,028 shares during the quarter. JPMorgan Chase & Co.’s holdings in Xerox were worth $27,715,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of XRX. PNC Financial Services Group Inc. boosted its stake in shares of Xerox by 4.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,067 shares of the information technology services provider’s stock valued at $220,000 after acquiring an additional 611 shares during the last quarter. Ronald Blue Trust Inc. boosted its stake in Xerox by 55.4% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,873 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 668 shares during the period. SummerHaven Investment Management LLC raised its holdings in shares of Xerox by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 54,648 shares of the information technology services provider’s stock worth $798,000 after buying an additional 735 shares in the last quarter. AE Wealth Management LLC boosted its position in shares of Xerox by 3.7% in the 4th quarter. AE Wealth Management LLC now owns 25,519 shares of the information technology services provider’s stock worth $373,000 after purchasing an additional 901 shares during the last quarter. Finally, Marathon Capital Management raised its stake in shares of Xerox by 0.5% in the 3rd quarter. Marathon Capital Management now owns 202,186 shares of the information technology services provider’s stock valued at $2,645,000 after purchasing an additional 926 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, EVP Jacques-Edouard Gueden sold 10,000 shares of the stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $15.61, for a total transaction of $156,100.00. Following the sale, the executive vice president now owns 28,125 shares of the company’s stock, valued at $439,031.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company’s stock.
Analyst Upgrades and Downgrades
Xerox Stock Performance
Shares of NYSE XRX opened at $15.09 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.96 and a current ratio of 1.26. Xerox Holdings Co. has a 52 week low of $11.80 and a 52 week high of $19.40. The stock has a market capitalization of $2.37 billion, a PE ratio of 8.88 and a beta of 1.69. The stock has a 50 day moving average price of $14.58 and a 200 day moving average price of $15.47.
Xerox (NYSE:XRX – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The information technology services provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.28. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Xerox had a negative net margin of 2.73% and a positive return on equity of 8.17%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.12) EPS. Analysts predict that Xerox Holdings Co. will post 1.54 earnings per share for the current fiscal year.
Xerox Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.63%. Xerox’s dividend payout ratio (DPR) is -73.53%.
Xerox Company Profile
Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the Americas, Europe, the Middle East, Africa, India, 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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