Advisors Asset Management Inc. Purchases 69,183 Shares of Xerox Holdings Co. (NYSE:XRX)

Advisors Asset Management Inc. increased its stake in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 9.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 796,609 shares of the information technology services provider's stock after buying an additional 69,183 shares during the period. Advisors Asset Management Inc. owned about 0.64% of Xerox worth $8,269,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. CWM LLC lifted its position in Xerox by 155.5% during the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider's stock valued at $26,000 after purchasing an additional 1,378 shares during the last quarter. Gladius Capital Management LP bought a new stake in shares of Xerox in the 3rd quarter worth approximately $29,000. EntryPoint Capital LLC bought a new stake in shares of Xerox in the 1st quarter worth approximately $45,000. US Bancorp DE lifted its holdings in shares of Xerox by 42.3% in the 3rd 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 last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Xerox in the 2nd quarter worth approximately $78,000. Hedge funds and other institutional investors own 85.36% of the company's stock.

Analyst Ratings Changes

XRX has been the subject of a number of recent analyst reports. Loop Capital lowered their price target on shares of Xerox from $14.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, August 14th. Morgan Stanley lowered their price target on shares of Xerox from $10.00 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 research report on Sunday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Xerox from $11.00 to $8.00 and set an "underweight" rating on the stock in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $9.50.

Xerox Stock Performance

Xerox stock traded up $0.04 during midday trading on Thursday, hitting $8.43. The stock had a trading volume of 168,192 shares, compared to its average volume of 2,186,453. The firm's fifty day moving average is $9.72 and its two-hundred day moving average is $11.22. The company has a market capitalization of $1.05 billion, a PE ratio of 8.17 and a beta of 1.59. Xerox Holdings Co. has a 52-week low of $8.02 and a 52-week high of $19.78. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.11.

Xerox (NYSE:XRX - Get Free Report) last posted 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 negative net margin of 21.31% and a positive return on equity of 6.60%. The business had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same period last year, the business posted $0.46 earnings per share. The company's revenue for the quarter was down 7.5% compared to the same quarter last year. On average, research analysts forecast that Xerox Holdings Co. will post 1.38 EPS for the current year.

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 annualized dividend and a dividend yield of 11.86%. Xerox's dividend payout ratio (DPR) is -9.06%.

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.