Wedge Capital Management L L P NC Buys 8,383 Shares of Xerox Holdings Co. (NYSE:XRX)

Wedge Capital Management L L P NC boosted its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,166 shares of the information technology services provider’s stock after buying an additional 8,383 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Xerox were worth $1,653,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in XRX. Vanguard Group Inc. grew its position in Xerox by 10.2% during the third quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock valued at $247,765,000 after buying an additional 1,464,851 shares during the period. AQR Capital Management LLC lifted its holdings in Xerox by 43.0% during the third quarter. AQR Capital Management LLC now owns 1,766,610 shares of the information technology services provider’s stock valued at $27,718,000 after purchasing an additional 531,173 shares in the last quarter. Invesco Ltd. lifted its holdings in Xerox by 65.2% during the third quarter. Invesco Ltd. now owns 1,281,942 shares of the information technology services provider’s stock valued at $20,114,000 after purchasing an additional 506,117 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new position in Xerox during the third quarter valued at approximately $7,495,000. Finally, American Century Companies Inc. lifted its holdings in Xerox by 520.9% during the third quarter. American Century Companies Inc. now owns 378,129 shares of the information technology services provider’s stock valued at $5,933,000 after purchasing an additional 317,233 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Xerox Price Performance

XRX stock opened at $14.38 on Thursday. Xerox Holdings Co. has a one year low of $12.06 and a one year high of $19.78. The company’s fifty day moving average price is $17.42 and its 200-day moving average price is $16.30. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 1.37. The company has a market capitalization of $1.79 billion, a PE ratio of 10.62 and a beta of 1.56.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.29). Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm posted $0.49 EPS. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, equities analysts anticipate that Xerox Holdings Co. will post 2.31 EPS for the current fiscal year.

Xerox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date is Wednesday, March 27th. Xerox’s payout ratio is presently -63.69%.

Analyst Ratings Changes

XRX has been the topic of several analyst reports. StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a report on Wednesday.

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.