Quartz Partners LLC Grows Stock Position in Xerox Holdings Co. (NYSE:XRX)

Quartz Partners LLC lifted its stake in Xerox Holdings Co. (NYSE:XRX) by 28.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 46,507 shares of the information technology services provider’s stock after acquiring an additional 10,379 shares during the quarter. Quartz Partners LLC’s holdings in Xerox were worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of XRX. Advisors Asset Management Inc. boosted its position in Xerox by 9.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock worth $8,269,000 after purchasing an additional 69,183 shares in the last quarter. Empowered Funds LLC boosted its holdings in Xerox by 8.2% during the fourth quarter. Empowered Funds LLC now owns 606,748 shares of the information technology services provider’s stock worth $5,115,000 after buying an additional 46,212 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Xerox by 6.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock valued at $17,850,000 after buying an additional 107,580 shares during the period. Sound Income Strategies LLC increased its holdings in Xerox by 6.7% in the fourth quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider’s stock valued at $9,296,000 after buying an additional 69,182 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Xerox by 2.3% in the third quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock worth $29,161,000 after acquiring an additional 62,947 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Xerox Trading Up 0.5 %

Shares of XRX opened at $7.89 on Monday. The stock has a market cap of $981.31 million, a PE ratio of -0.73 and a beta of 1.59. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. Xerox Holdings Co. has a 52-week low of $7.70 and a 52-week high of $19.48. The firm’s fifty day moving average is $8.68 and its two-hundred day moving average is $9.39.

Xerox Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.125 per share. The ex-dividend date is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a yield of 6.34%. Xerox’s payout ratio is -4.66%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on XRX. JPMorgan Chase & Co. dropped their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley dropped their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com downgraded Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target 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.