Xerox (NYSE:XRX) Stock Price Down 9.1%

Xerox Holdings Co. (NYSE:XRXGet Rating)’s share price fell 9.1% during trading on Tuesday . The stock traded as low as $15.07 and last traded at $15.12. 62,162 shares changed hands during trading, a decline of 95% from the average session volume of 1,149,171 shares. The stock had previously closed at $16.64.

Analyst Ratings Changes

Several research firms recently commented on XRX. Morgan Stanley dropped their target price on Xerox from $14.00 to $11.00 and set an “underweight” rating on the stock in a report on Monday, October 17th. Credit Suisse Group dropped their target price on Xerox from $14.00 to $13.00 and set an “underperform” rating on the stock in a report on Tuesday, October 18th. StockNews.com began coverage on Xerox in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Citigroup dropped their target price on Xerox from $15.00 to $10.00 and set a “sell” rating on the stock in a report on Wednesday, October 26th. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $12.00.

Xerox Stock Down 9.3 %

The company has a market cap of $2.35 billion, a PE ratio of -2.21 and a beta of 1.73. The business has a 50-day simple moving average of $14.94 and a 200-day simple moving average of $16.01. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 0.82.

Xerox (NYSE:XRXGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The information technology services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.18). The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Xerox had a positive return on equity of 2.66% and a negative net margin of 16.10%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 EPS. Equities research analysts anticipate that Xerox Holdings Co. will post 0.75 EPS for the current year.

Xerox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Saturday, December 31st will be given a $0.25 dividend. The ex-dividend date is Thursday, December 29th. This represents a $1.00 annualized dividend and a dividend yield of 6.63%. Xerox’s dividend payout ratio (DPR) is presently -14.53%.

Insider Activity

In other news, Director Hernandez Margarita Palau bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 29th. The shares were acquired at an average price of $15.55 per share, for a total transaction of $155,500.00. Following the completion of the transaction, the director now directly owns 15,500 shares in the company, valued at approximately $241,025. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Xerox

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its position in Xerox by 654.8% during the third quarter. Quadrant Capital Group LLC now owns 2,219 shares of the information technology services provider’s stock worth $29,000 after buying an additional 1,925 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in Xerox during the second quarter worth approximately $31,000. Point72 Hong Kong Ltd purchased a new position in Xerox during the third quarter worth approximately $48,000. Lazard Asset Management LLC lifted its position in Xerox by 64.4% during the third quarter. Lazard Asset Management LLC now owns 5,421 shares of the information technology services provider’s stock worth $70,000 after buying an additional 2,123 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its position in Xerox by 4,078.9% during the third quarter. Newbridge Financial Services Group Inc. now owns 6,352 shares of the information technology services provider’s stock worth $83,000 after buying an additional 6,200 shares in the last quarter. Hedge funds and other institutional investors own 94.58% of the company’s stock.

About Xerox

(Get Rating)

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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