Raymond James & Associates Has $647,000 Stake in Xerox Holdings Co. (NYSE:XRX)

Raymond James & Associates trimmed its stake in Xerox Holdings Co. (NYSE:XRX) by 27.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,278 shares of the information technology services provider’s stock after selling 13,233 shares during the period. Raymond James & Associates’ holdings in Xerox were worth $647,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in Xerox in the 4th quarter worth $25,000. Hexagon Capital Partners LLC boosted its position in shares of Xerox by 87.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,627 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 758 shares in the last quarter. C M Bidwell & Associates Ltd. boosted its position in shares of Xerox by 5,572.3% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 8,395 shares of the information technology services provider’s stock valued at $132,000 after acquiring an additional 8,247 shares in the last quarter. CI Investments Inc. acquired a new stake in shares of Xerox during the 3rd quarter valued at about $149,000. Finally, Covestor Ltd boosted its position in shares of Xerox by 25.0% during the 3rd quarter. Covestor Ltd now owns 10,019 shares of the information technology services provider’s stock valued at $157,000 after acquiring an additional 2,002 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

XRX has been the topic of several recent research reports. StockNews.com lowered shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. cut their price target on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Wednesday.

Xerox Trading Down 2.6 %

Shares of XRX stock opened at $14.38 on Thursday. Xerox Holdings Co. has a 12-month low of $12.06 and a 12-month high of $19.78. The company has a market capitalization of $1.79 billion, a P/E ratio of -71.90 and a beta of 1.56. The firm has a 50-day moving average price of $17.42 and a 200 day moving average price of $16.30. The company has a quick ratio of 0.91, a current ratio of 1.14 and a debt-to-equity ratio of 1.06.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.29). Xerox had a net margin of 0.01% and a return on equity of 9.41%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the business earned $0.49 earnings per share. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. Research analysts forecast that Xerox Holdings Co. will post 2.31 earnings per share for the current fiscal year.

Xerox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Xerox’s dividend payout ratio is presently -500.00%.

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.