60,224 Shares in Xerox Holdings Co. (NYSE:XRX) Acquired by Verition Fund Management LLC

Verition Fund Management LLC bought a new stake in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 60,224 shares of the information technology services provider's stock, valued at approximately $625,000.

A number of other hedge funds have also made changes to their positions in XRX. CWM LLC boosted its stake in Xerox by 155.5% during the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider's stock valued at $26,000 after acquiring an additional 1,378 shares during the last quarter. Diversified Trust Co increased its holdings in Xerox by 8.9% in the second quarter. Diversified Trust Co now owns 22,395 shares of the information technology services provider's stock valued at $260,000 after buying an additional 1,822 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in Xerox by 30.3% during the second quarter. Wedge Capital Management L L P NC now owns 159,778 shares of the information technology services provider's stock valued at $1,857,000 after buying an additional 37,180 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Xerox by 10.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 51,250 shares of the information technology services provider's stock worth $608,000 after buying an additional 4,806 shares during the last quarter. Finally, SummerHaven Investment Management LLC grew its position in shares of Xerox by 2.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 47,430 shares of the information technology services provider's stock worth $551,000 after acquiring an additional 1,110 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on XRX shares. JPMorgan Chase & Co. reduced their price objective on Xerox from $11.00 to $8.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 30th. StockNews.com lowered shares of Xerox from a "buy" rating to a "hold" rating in a report on Wednesday, December 4th. Morgan Stanley dropped their price objective 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. Finally, Loop Capital decreased their target price on Xerox from $14.00 to $11.00 and set a "hold" rating for the company in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $9.50.

Xerox Stock Performance

Shares of XRX stock traded down $0.05 during trading hours on Wednesday, reaching $8.86. The stock had a trading volume of 3,484,035 shares, compared to its average volume of 2,175,210. 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 firm has a 50-day simple moving average of $9.29 and a 200-day simple moving average of $10.71. The firm has a market capitalization of $1.10 billion, a PE ratio of -0.80 and a beta of 1.59. Xerox Holdings Co. has a twelve month low of $8.02 and a twelve month high of $19.78.

Xerox (NYSE:XRX - Get Free Report) last announced its quarterly 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). Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the business posted $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 forecast that Xerox Holdings Co. will post 1.12 earnings per share for the current year.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 annualized dividend and a dividend yield of 11.29%. Xerox's payout ratio is -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.