Edgestream Partners L.P. Sells 212,924 Shares of Xerox Holdings Co. (NYSE:XRX)

Edgestream Partners L.P. lessened its position in shares of Xerox Holdings Co. (NYSE:XRX) by 55.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 168,584 shares of the information technology services provider’s stock after selling 212,924 shares during the period. Edgestream Partners L.P.’s holdings in Xerox were worth $1,750,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of XRX. Verition Fund Management LLC bought a new stake in Xerox during the third quarter valued at $625,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Xerox by 3.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 513,131 shares of the information technology services provider’s stock valued at $5,326,000 after acquiring an additional 17,913 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of Xerox by 112.4% during the third quarter. Quantbot Technologies LP now owns 199,773 shares of the information technology services provider’s stock worth $2,074,000 after purchasing an additional 105,737 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in Xerox by 112.5% in the third quarter. Dynamic Technology Lab Private Ltd now owns 47,869 shares of the information technology services provider’s stock valued at $497,000 after purchasing an additional 25,339 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Xerox by 6.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock valued at $17,850,000 after purchasing an additional 107,580 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Xerox Trading Down 5.1 %

NYSE XRX opened at $8.85 on Wednesday. The firm has a market cap of $1.10 billion, a PE ratio of -0.80 and a beta of 1.59. Xerox Holdings Co. has a 1-year low of $8.02 and a 1-year high of $19.78. The stock has a 50-day moving average of $9.50 and a 200-day moving average of $10.94. 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 announced its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share 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 company 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 firm posted $0.46 EPS. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Xerox Holdings Co. will post 1.12 EPS for the current year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.30%. The ex-dividend date of this dividend is Tuesday, December 31st. Xerox’s payout ratio is -9.06%.

Analyst Ratings Changes

A number of equities analysts have recently commented on XRX shares. JPMorgan Chase & Co. decreased their price target on shares of 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 on the stock in a research report on Wednesday, August 14th. Morgan Stanley cut their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.