Odyssean LLC Has $638,000 Stock Holdings in Xerox Holdings Co. $XRX

Odyssean LLC boosted its stake in shares of Xerox Holdings Co. (NASDAQ:XRX) by 522.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,988 shares of the information technology services provider’s stock after purchasing an additional 171,192 shares during the quarter. Odyssean LLC’s holdings in Xerox were worth $638,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of XRX. Goldman Sachs Group Inc. lifted its stake in shares of Xerox by 339.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 9,294,446 shares of the information technology services provider’s stock worth $22,028,000 after buying an additional 7,178,915 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Xerox by 32.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,498,232 shares of the information technology services provider’s stock valued at $8,291,000 after buying an additional 854,119 shares during the last quarter. Geode Capital Management LLC grew its stake in Xerox by 24.4% in the 4th quarter. Geode Capital Management LLC now owns 2,915,580 shares of the information technology services provider’s stock valued at $6,911,000 after buying an additional 571,715 shares during the last quarter. Two Sigma Investments LP raised its holdings in Xerox by 43.2% in the 3rd quarter. Two Sigma Investments LP now owns 2,476,689 shares of the information technology services provider’s stock valued at $9,312,000 after acquiring an additional 746,582 shares during the period. Finally, First Eagle Investment Management LLC raised its holdings in Xerox by 89.4% in the 4th quarter. First Eagle Investment Management LLC now owns 2,182,500 shares of the information technology services provider’s stock valued at $5,173,000 after acquiring an additional 1,030,000 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on XRX. Zacks Research upgraded Xerox from a “strong sell” rating to a “hold” rating in a report on Thursday, April 30th. Noble Financial initiated coverage on Xerox in a research note on Tuesday, August 18th. They set an “outperform” rating and a $5.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Xerox in a report on Friday, July 24th. Citigroup restated a “neutral” rating and issued a $3.45 price target (up from $2.50) on shares of Xerox in a research note on Friday, July 31st. Finally, Needham & Company LLC set a $5.00 price objective on Xerox in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.48.

Xerox Stock Performance

Shares of NASDAQ:XRX opened at $2.98 on Thursday. Xerox Holdings Co. has a 12-month low of $1.19 and a 12-month high of $4.27. The company’s 50 day moving average price is $2.94 and its two-hundred day moving average price is $2.40. The firm has a market cap of $391.33 million, a PE ratio of -0.40 and a beta of 2.40. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 12.58.

Xerox (NASDAQ:XRX) last released its quarterly earnings results on Thursday, July 30th. The information technology services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.32. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.90 billion. Xerox had a negative net margin of 11.93% and a positive return on equity of 17.61%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.64) earnings per share. Equities research analysts predict that Xerox Holdings Co. will post 0.17 earnings per share for the current year.

Xerox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Wednesday, September 30th. Xerox’s dividend payout ratio is presently -1.36%.

About Xerox

Xerox Holdings Corporation (NYSE: XRX) is a global provider of document management technology and services. The company designs and manufactures a broad range of multifunction printers, production printers, digital presses and related consumables. In addition to its hardware offerings, Xerox delivers software and workflow automation solutions, managed print services and cloud-based document platforms that help organizations optimize their information-intensive processes.

Founded in 1906 as The Haloid Photographic Company, Xerox pioneered xerographic imaging in the late 1940s, launching the first plain-paper copier in 1959.