Quartz Partners LLC Boosts Stock Holdings in Xerox Holdings Co. (NYSE:XRX)

Quartz Partners LLC raised its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 28.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,507 shares of the information technology services provider’s stock after acquiring an additional 10,379 shares during the quarter. Quartz Partners LLC’s holdings in Xerox were worth $392,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in XRX. Pacer Advisors Inc. boosted its position in Xerox by 33.2% during the third quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock valued at $176,140,000 after purchasing an additional 4,228,806 shares in the last quarter. Barclays PLC boosted its holdings in shares of Xerox by 55.5% in the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock valued at $4,869,000 after buying an additional 167,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Xerox in the 3rd quarter worth approximately $1,626,000. Allspring Global Investments Holdings LLC raised its stake in shares of Xerox by 1,960.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 163,163 shares of the information technology services provider’s stock worth $1,694,000 after acquiring an additional 155,244 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 acquiring an additional 107,580 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Xerox Stock Performance

Shares of XRX stock opened at $7.89 on Monday. The business has a fifty day moving average of $8.68 and a 200 day moving average of $9.39. Xerox Holdings Co. has a 1 year low of $7.70 and a 1 year high of $19.48. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84. The firm has a market capitalization of $981.31 million, a price-to-earnings ratio of -0.73 and a beta of 1.59.

Xerox Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a yield of 6.34%. Xerox’s dividend payout ratio is currently -4.66%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on XRX. StockNews.com downgraded Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Morgan Stanley decreased their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut their price objective 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. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $9.50.

Xerox 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.