Sargent Investment Group LLC Trims Stock Position in Xerox Holdings Co. (NYSE:XRX)

Sargent Investment Group LLC decreased its holdings in Xerox Holdings Co. (NYSE:XRX) by 22.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,795 shares of the information technology services provider’s stock after selling 40,135 shares during the quarter. Sargent Investment Group LLC owned 0.11% of Xerox worth $1,613,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Xerox by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock valued at $292,937,000 after acquiring an additional 190,034 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Xerox by 10.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,587,041 shares of the information technology services provider’s stock valued at $29,090,000 after purchasing an additional 153,144 shares during the period. Allianz Asset Management GmbH increased its position in Xerox by 1.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,044,971 shares of the information technology services provider’s stock worth $19,154,000 after buying an additional 15,408 shares in the last quarter. Bridgeway Capital Management LLC raised its stake in shares of Xerox by 3.5% in the first quarter. Bridgeway Capital Management LLC now owns 986,682 shares of the information technology services provider’s stock worth $17,662,000 after buying an additional 33,590 shares during the period. Finally, Intrinsic Edge Capital Management LLC purchased a new position in shares of Xerox during the 4th quarter valued at about $14,832,000. 85.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

XRX has been the topic of a number of recent analyst reports. Citigroup assumed coverage on shares of Xerox in a research note on Friday, June 28th. They set a “sell” rating and a $11.00 target price on the stock. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Finally, Loop Capital cut their price target on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.75.

Xerox Trading Up 1.4 %

Xerox stock opened at $10.58 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.49 and a quick ratio of 1.13. The firm’s 50 day moving average price is $10.69 and its 200-day moving average price is $13.45. Xerox Holdings Co. has a 1 year low of $9.51 and a 1 year high of $19.78. The stock has a market cap of $1.31 billion, a P/E ratio of -6.74 and a beta of 1.57.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The business’s revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. On average, equities analysts predict that Xerox Holdings Co. will post 1.79 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.45%. The ex-dividend date is Monday, September 30th. Xerox’s dividend payout ratio is presently -63.69%.

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.