Entropy Technologies LP Raises Holdings in Xerox Holdings Co. (NYSE:XRX)

Entropy Technologies LP increased its position in Xerox Holdings Co. (NYSE:XRX) by 250.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 48,802 shares of the information technology services provider’s stock after purchasing an additional 34,881 shares during the period. Entropy Technologies LP’s holdings in Xerox were worth $507,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC increased its stake in shares of 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 position in Xerox in the 1st quarter worth approximately $45,000. US Bancorp DE raised its holdings in Xerox by 42.3% during the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after acquiring an additional 1,888 shares during the period. nVerses Capital LLC purchased a new stake in shares of Xerox during the second quarter worth $78,000. Finally, Plato Investment Management Ltd boosted its holdings in shares of Xerox by 45.0% in the second quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock worth $109,000 after acquiring an additional 2,899 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on XRX. Loop Capital dropped their price objective on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. JPMorgan Chase & Co. lowered their price target 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. StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Finally, Morgan Stanley lowered their target price 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. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.50.

Xerox Stock Up 0.5 %

Shares of NYSE XRX opened at $8.43 on Friday. The business has a 50-day moving average of $9.82 and a 200-day moving average of $11.33. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -0.76 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 12 month low of $8.02 and a 12 month high of $19.78.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the company earned $0.46 EPS. Xerox’s quarterly revenue was down 7.5% on a year-over-year basis. Sell-side analysts expect that Xerox Holdings Co. will post 1.38 earnings per share for the current fiscal year.

Xerox Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.86%. The ex-dividend date of this dividend is Tuesday, December 31st. Xerox’s 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.