Prism Advisors Inc. Buys New Shares in Xerox Holdings Co. (NYSE:XRX)

Prism Advisors Inc. purchased a new position in Xerox Holdings Co. (NYSE:XRX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,171 shares of the information technology services provider’s stock, valued at approximately $103,000.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in Xerox by 33.2% in the 3rd quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock worth $176,140,000 after buying an additional 4,228,806 shares during the period. Sound Income Strategies LLC lifted its position in shares of Xerox by 27.9% in the third quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock valued at $10,728,000 after acquiring an additional 225,617 shares in the last quarter. Barclays PLC grew its position in shares of Xerox by 55.5% during the third quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock worth $4,869,000 after purchasing an additional 167,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Xerox during the 3rd quarter valued at approximately $1,626,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Xerox by 1,960.4% in 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 purchasing an additional 155,244 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

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

Xerox Stock Down 1.6 %

NYSE XRX opened at $9.68 on Monday. The stock has a 50 day moving average price of $8.90 and a 200-day moving average price of $9.77. Xerox Holdings Co. has a one year low of $8.02 and a one year high of $19.78. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market capitalization of $1.20 billion, a P/E ratio of 9.11 and a beta of 1.59.

Xerox (NYSE:XRX) last released its quarterly earnings data 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). Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the business earned $0.46 EPS. Xerox’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, equities analysts predict that Xerox Holdings Co. will post 1.12 EPS for the current fiscal year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.33%. Xerox’s dividend payout ratio (DPR) is presently -9.06%.

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.