Victory Capital Management Inc. Buys 18,819 Shares of Xerox Holdings Co. (NYSE:XRX)

Victory Capital Management Inc. lifted its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 10.0% during the third quarter, HoldingsChannel.com reports. The firm owned 206,368 shares of the information technology services provider’s stock after purchasing an additional 18,819 shares during the quarter. Victory Capital Management Inc.’s holdings in Xerox were worth $2,142,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Sei Investments Co. grew its holdings in shares of Xerox by 3.2% in the first quarter. Sei Investments Co. now owns 66,915 shares of the information technology services provider’s stock worth $1,198,000 after purchasing an additional 2,095 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Xerox in the 1st quarter worth $45,000. Price T Rowe Associates Inc. MD increased its holdings in Xerox by 6.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,169 shares of the information technology services provider’s stock worth $1,167,000 after buying an additional 4,203 shares in the last quarter. Virtus Investment Advisers Inc. purchased a new stake in Xerox during the first quarter valued at $786,000. Finally, Tidal Investments LLC lifted its position in Xerox by 235.6% during the first quarter. Tidal Investments LLC now owns 176,518 shares of the information technology services provider’s stock valued at $3,160,000 after purchasing an additional 123,922 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Stock Performance

Shares of Xerox stock opened at $9.04 on Monday. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market capitalization of $1.12 billion, a PE ratio of -0.82 and a beta of 1.59. The company has a 50-day simple moving average of $9.66 and a two-hundred day simple moving average of $11.14. Xerox Holdings Co. has a one year low of $8.02 and a one year high of $19.78.

Xerox (NYSE:XRX) last posted its 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 positive return on equity of 6.60% and a negative net margin of 21.31%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the business earned $0.46 earnings per share. The firm’s revenue was down 7.5% on a year-over-year basis. Research analysts expect that Xerox Holdings Co. will post 1.12 EPS for the current fiscal year.

Xerox Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 11.06%. Xerox’s payout ratio is currently -9.06%.

Analyst Ratings Changes

Several research firms recently issued reports on XRX. Morgan Stanley cut their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research note on Sunday, November 17th. Loop Capital decreased their target price on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Finally, 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. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $9.50.

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.