Verus Capital Partners LLC Purchases Shares of 69,008 Xerox Holdings Co. (NYSE:XRX)

Verus Capital Partners LLC acquired a new position in shares of Xerox Holdings Co. (NYSE:XRX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 69,008 shares of the information technology services provider’s stock, valued at approximately $802,000.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in Xerox during the 4th quarter worth approximately $25,000. CWM LLC boosted its stake in Xerox by 155.5% in the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 1,378 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Xerox during the first quarter worth $45,000. TFO Wealth Partners LLC increased its stake in shares of Xerox by 30,127.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock valued at $61,000 after buying an additional 3,314 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Xerox in the second quarter valued at about $78,000. Institutional investors own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on XRX. StockNews.com lowered shares of Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. 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. Finally, Citigroup began coverage on Xerox in a report on Friday, June 28th. They set a “sell” rating and a $11.00 price objective on the stock. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $12.75.

Xerox Stock Up 0.9 %

Shares of NYSE XRX opened at $11.33 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $1.41 billion, a PE ratio of -7.22 and a beta of 1.58. The firm’s 50-day moving average is $10.98 and its 200-day moving average is $14.04. Xerox Holdings Co. has a 1 year low of $9.51 and a 1 year high of $19.78.

Xerox (NYSE:XRX) last released its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. Xerox’s revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. Equities analysts expect that Xerox Holdings Co. will post 1.79 EPS for the current year.

Xerox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 8.83%. Xerox’s dividend payout ratio is presently -63.69%.

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.