Allspring Global Investments Holdings LLC increased its holdings in Xerox Holdings Co. (NYSE:XRX - Free Report) by 1,960.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 163,163 shares of the information technology services provider's stock after acquiring an additional 155,244 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.13% of Xerox worth $1,694,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its stake in shares of Xerox by 36.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 36,721 shares of the information technology services provider's stock valued at $657,000 after buying an additional 9,896 shares during the last quarter. Capstone Investment Advisors LLC increased its stake in shares of Xerox by 60.2% in the 1st quarter. Capstone Investment Advisors LLC now owns 24,741 shares of the information technology services provider's stock valued at $443,000 after purchasing an additional 9,298 shares in the last quarter. StoneX Group Inc. increased its stake in shares of Xerox by 21.0% in the 1st quarter. StoneX Group Inc. now owns 35,149 shares of the information technology services provider's stock valued at $638,000 after purchasing an additional 6,098 shares in the last quarter. WBI Investments LLC purchased a new position in shares of Xerox in the 1st quarter valued at about $931,000. Finally, Texas Permanent School Fund Corp increased its stake in shares of Xerox by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 98,961 shares of the information technology services provider's stock valued at $1,771,000 after purchasing an additional 1,323 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.
Xerox Stock Performance
Shares of XRX traded down $0.17 during mid-day trading on Thursday, reaching $8.06. 1,536,123 shares of the company's stock were exchanged, compared to its average volume of 2,197,936. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.49 and a quick ratio of 1.13. The stock has a market capitalization of $1.00 billion, a PE ratio of -7.84 and a beta of 1.57. The business's fifty day simple moving average is $10.37 and its 200-day simple moving average is $11.88. Xerox Holdings Co. has a 52-week low of $8.02 and a 52-week high of $19.78.
Xerox (NYSE:XRX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.28). Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The firm had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same quarter last year, the business earned $0.46 earnings per share. The business's quarterly revenue was down 7.5% on a year-over-year basis. On average, equities research analysts expect that Xerox Holdings Co. will post 1.72 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. Morgan Stanley cut their price target on Xerox from $10.00 to $8.00 and set an "underweight" rating for the company in a research note on Wednesday. Loop Capital lowered their price objective on Xerox from $14.00 to $11.00 and set a "hold" rating on the stock in a report on Wednesday, August 14th. StockNews.com upgraded Xerox from a "hold" rating to a "buy" rating in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. lowered their price objective on Xerox from $11.00 to $8.00 and set an "underweight" rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Xerox currently has a consensus rating of "Hold" and a consensus price target of $9.50.
Check Out Our Latest Stock Analysis on XRX
About Xerox
(
Free Report)
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.
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