Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in Xerox Holdings Co. $XRX

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Xerox Holdings Co. (NASDAQ:XRX) by 104.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,585,215 shares of the information technology services provider’s stock after purchasing an additional 809,861 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 1.24% of Xerox worth $3,900,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in XRX. AQR Capital Management LLC lifted its stake in shares of Xerox by 71.7% in the 1st quarter. AQR Capital Management LLC now owns 345,631 shares of the information technology services provider’s stock valued at $1,661,000 after purchasing an additional 144,280 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Xerox by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,047 shares of the information technology services provider’s stock valued at $333,000 after purchasing an additional 2,838 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Xerox by 37.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,575,229 shares of the information technology services provider’s stock valued at $7,608,000 after purchasing an additional 431,349 shares during the period. Empowered Funds LLC lifted its stake in shares of Xerox by 2.1% in the 1st quarter. Empowered Funds LLC now owns 619,381 shares of the information technology services provider’s stock valued at $2,992,000 after purchasing an additional 12,633 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Xerox by 9.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,018 shares of the information technology services provider’s stock valued at $2,898,000 after purchasing an additional 50,467 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Stock Down 4.3%

Shares of NASDAQ:XRX opened at $2.66 on Tuesday. The stock has a fifty day simple moving average of $1.65 and a two-hundred day simple moving average of $2.23. The stock has a market capitalization of $347.87 million, a price-to-earnings ratio of -0.32 and a beta of 2.28. Xerox Holdings Co. has a 12-month low of $1.19 and a 12-month high of $6.80. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 14.04.

Xerox (NASDAQ:XRX) last announced its quarterly earnings data on Thursday, April 30th. The information technology services provider reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Xerox had a negative return on equity of 12.08% and a negative net margin of 14.09%.The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) earnings per share. On average, research analysts anticipate that Xerox Holdings Co. will post 0.16 earnings per share for the current fiscal year.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were paid a $0.025 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 3.8%. Xerox’s payout ratio is currently -1.20%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on XRX shares. Citigroup restated a “neutral” rating and issued a $2.50 target price (down from $3.50) on shares of Xerox in a research note on Friday, January 30th. Zacks Research upgraded Xerox from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Xerox in a research note on Monday, April 27th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $2.50.

Xerox Profile

Xerox Holdings Corporation (NYSE: XRX) is a global provider of document management technology and services. The company designs and manufactures a broad range of multifunction printers, production printers, digital presses and related consumables. In addition to its hardware offerings, Xerox delivers software and workflow automation solutions, managed print services and cloud-based document platforms that help organizations optimize their information-intensive processes.

Founded in 1906 as The Haloid Photographic Company, Xerox pioneered xerographic imaging in the late 1940s, launching the first plain-paper copier in 1959.