Sanctuary Advisors LLC Invests $704,000 in Xerox Holdings Co. (NYSE:XRX)

Sanctuary Advisors LLC acquired a new position in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 60,544 shares of the information technology services provider's stock, valued at approximately $704,000.

Several other large investors also recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new stake in Xerox during the 2nd quarter worth $320,000. Algert Global LLC purchased a new stake in shares of Xerox in the second quarter worth about $138,000. Susquehanna Fundamental Investments LLC grew its stake in shares of Xerox by 108.9% in the second quarter. Susquehanna Fundamental Investments LLC now owns 140,809 shares of the information technology services provider's stock valued at $1,636,000 after buying an additional 73,413 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Xerox by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 63,666 shares of the information technology services provider's stock valued at $740,000 after buying an additional 1,627 shares during the period. Finally, AQR Capital Management LLC lifted its position in Xerox by 75.2% during the 2nd quarter. AQR Capital Management LLC now owns 179,118 shares of the information technology services provider's stock worth $2,081,000 after acquiring an additional 76,886 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Xerox from a "hold" rating to a "buy" rating in a research note on Thursday, September 5th. Citigroup assumed coverage on Xerox in a research note on Friday, June 28th. They set a "sell" rating and a $11.00 target price for the company. Finally, Loop Capital cut their price target on Xerox from $14.00 to $11.00 and set a "hold" rating on the stock in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $12.75.

Xerox Stock Down 0.9 %

NYSE XRX traded down $0.09 during trading hours on Monday, reaching $10.17. 847,694 shares of the company traded hands, compared to its average volume of 2,122,233. The stock has a market capitalization of $1.26 billion, a PE ratio of -9.69 and a beta of 1.57. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34. Xerox Holdings Co. has a 12 month low of $9.51 and a 12 month high of $19.78. The company has a 50 day moving average of $10.38 and a two-hundred day moving average of $12.46.

Xerox (NYSE:XRX - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The information technology services provider reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.14). Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the business posted $0.44 earnings per share. The firm's revenue for the quarter was down 10.0% on a year-over-year basis. As a group, equities analysts expect that Xerox Holdings Co. will post 1.79 earnings per share for the current year.

Xerox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.83%. The ex-dividend date is Monday, September 30th. Xerox's dividend payout ratio is presently -95.24%.

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.