Public Sector Pension Investment Board Sells 6,100 Shares of Xerox Holdings Co. (NYSE:XRX)

Public Sector Pension Investment Board reduced its position in shares of Xerox Holdings Co. (NYSE:XRX) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 245,280 shares of the information technology services provider’s stock after selling 6,100 shares during the period. Public Sector Pension Investment Board owned 0.20% of Xerox worth $2,546,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. CWM LLC lifted its position in shares of 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 in the last quarter. Gladius Capital Management LP bought a new position in shares of Xerox during the third quarter valued at about $29,000. US Bancorp DE lifted its position in shares of Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after purchasing an additional 1,888 shares in the last quarter. nVerses Capital LLC bought a new stake in Xerox in the second quarter worth about $78,000. Finally, International Assets Investment Management LLC raised its position in Xerox by 938.0% in the third quarter. International Assets Investment Management LLC now owns 8,304 shares of the information technology services provider’s stock worth $800,000 after acquiring an additional 7,504 shares during the period. 85.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on XRX. Loop Capital lowered their price objective on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. 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 report on Wednesday, October 30th. StockNews.com lowered shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered 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 assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $9.50.

Xerox Price Performance

XRX opened at $8.79 on Thursday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -0.80 and a beta of 1.59. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11. The firm has a 50-day moving average price of $9.47 and a 200-day moving average price of $10.91. Xerox Holdings Co. has a twelve month low of $8.02 and a twelve month high of $19.78.

Xerox (NYSE:XRX) last posted its earnings results 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 business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. Xerox’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 EPS. Equities analysts expect that Xerox Holdings Co. will post 1.12 EPS for the current year.

Xerox Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 11.38%. Xerox’s dividend payout ratio is currently -9.06%.

Xerox Company 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.