Charles Schwab Investment Management Inc. Acquires 107,580 Shares of Xerox Holdings Co. (NYSE:XRX)

Charles Schwab Investment Management Inc. boosted its stake in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 6.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,719,607 shares of the information technology services provider's stock after purchasing an additional 107,580 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.38% of Xerox worth $17,850,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its holdings in Xerox by 33.2% during the third quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider's stock valued at $176,140,000 after acquiring an additional 4,228,806 shares during the period. Intech Investment Management LLC bought a new stake in Xerox during the 3rd quarter valued at approximately $498,000. Advisors Asset Management Inc. grew its holdings in Xerox by 9.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider's stock valued at $8,269,000 after buying an additional 69,183 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Xerox in the 3rd quarter worth approximately $1,626,000. Finally, Gladius Capital Management LP acquired a new position in shares of Xerox during the third quarter worth approximately $29,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Xerox Price Performance

NYSE XRX traded down $0.11 on Friday, reaching $8.60. The company's stock had a trading volume of 1,355,339 shares, compared to its average volume of 1,612,293. The firm has a market cap of $1.07 billion, a PE ratio of -0.78 and a beta of 1.59. 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 Holdings Co. has a 52 week low of $8.02 and a 52 week high of $19.78. The business has a 50-day moving average price of $9.37 and a 200 day moving average price of $10.82.

Xerox (NYSE:XRX - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.26). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The company's revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 earnings per share. Sell-side analysts expect that Xerox Holdings Co. will post 1.12 EPS for the current year.

Xerox Dividend Announcement

The company also recently announced 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 of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 11.63%. Xerox's dividend payout ratio is presently -9.06%.

Wall Street Analysts Forecast Growth

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