Sound Income Strategies LLC Acquires 69,182 Shares of Xerox Holdings Co. (NYSE:XRX)

Sound Income Strategies LLC boosted its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,102,688 shares of the information technology services provider’s stock after acquiring an additional 69,182 shares during the quarter. Sound Income Strategies LLC owned approximately 0.89% of Xerox worth $9,296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in XRX. Gladius Capital Management LP bought a new stake in shares of Xerox during the third quarter valued at approximately $29,000. US Bancorp DE boosted its position in Xerox by 42.3% in the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after buying an additional 1,888 shares during the last quarter. CWM LLC increased its stake in shares of Xerox by 381.3% in the 3rd quarter. CWM LLC now owns 10,897 shares of the information technology services provider’s stock valued at $113,000 after buying an additional 8,633 shares during the period. Algert Global LLC bought a new stake in shares of Xerox during the second quarter worth $138,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Xerox by 24.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,600 shares of the information technology services provider’s stock valued at $183,000 after acquiring an additional 3,444 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on XRX. JPMorgan Chase & Co. dropped their price objective on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Morgan Stanley dropped their price target on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat, Xerox currently has a consensus rating of “Reduce” and a consensus price target of $9.50.

Xerox Stock Performance

Shares of XRX stock opened at $9.84 on Friday. The stock has a 50-day moving average of $8.87 and a 200-day moving average of $9.80. Xerox Holdings Co. has a one year low of $8.02 and a one year high of $19.78. The stock has a market cap of $1.22 billion, a PE ratio of 9.11 and a beta of 1.59. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95.

Xerox (NYSE:XRX) last issued its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.26). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. As a group, sell-side analysts expect that Xerox Holdings Co. will post 1.12 earnings per share for the current year.

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.16%. Xerox’s payout ratio is -9.06%.

About Xerox

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.