Sound Income Strategies LLC Boosts Stake in Xerox Holdings Co. (NYSE:XRX)

Sound Income Strategies LLC boosted its position in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. 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 0.89% of Xerox worth $9,296,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Gladius Capital Management LP bought a new position in shares of Xerox in the 3rd quarter worth approximately $29,000. US Bancorp DE raised its position in Xerox by 42.3% in the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider's stock worth $66,000 after acquiring an additional 1,888 shares during the period. CWM LLC boosted its stake in shares of Xerox by 381.3% during the 3rd quarter. CWM LLC now owns 10,897 shares of the information technology services provider's stock worth $113,000 after acquiring an additional 8,633 shares during the last quarter. Algert Global LLC bought a new stake in shares of Xerox during the 2nd quarter valued at $138,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Xerox by 24.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,600 shares of the information technology services provider's stock worth $183,000 after purchasing an additional 3,444 shares in the last quarter. Institutional investors own 85.36% of the company's stock.

Xerox Price Performance

Shares of NYSE:XRX traded down $0.16 during trading on Friday, hitting $9.68. 2,681,807 shares of the company's stock were exchanged, compared to its average volume of 2,317,901. Xerox Holdings Co. has a 52-week low of $8.02 and a 52-week high of $19.78. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -0.88 and a beta of 1.59. The business's 50-day simple moving average is $8.87 and its 200 day simple moving average is $9.80.

Xerox (NYSE:XRX - Get Free Report) last issued its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.26). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the company posted $0.46 EPS. Xerox's revenue 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 year.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 10.33%. The ex-dividend date is Tuesday, December 31st. Xerox's payout ratio is -9.06%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on XRX. Morgan Stanley cut their price target on Xerox from $10.00 to $8.00 and set an "underweight" rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their target price 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. Finally, StockNews.com downgraded shares of Xerox from a "buy" rating to a "hold" rating in a report on Friday, January 17th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $9.50.

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.