Pacer Advisors Inc. Acquires 4,228,806 Shares of Xerox Holdings Co. (NYSE:XRX)

Pacer Advisors Inc. grew its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 33.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,969,127 shares of the information technology services provider’s stock after buying an additional 4,228,806 shares during the period. Pacer Advisors Inc. owned approximately 13.64% of Xerox worth $176,140,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Sound Income Strategies LLC raised its position in shares of Xerox by 27.9% during the third quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after purchasing an additional 225,617 shares during the period. Bridgeway Capital Management LLC raised its position in shares of Xerox by 3.5% during 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 purchasing an additional 33,590 shares during the period. Advisors Asset Management Inc. raised its position in shares of Xerox by 9.5% during the third 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 during the period. Royce & Associates LP raised its position in shares of Xerox by 16.9% during the third quarter. Royce & Associates LP now owns 742,189 shares of the information technology services provider’s stock worth $7,704,000 after purchasing an additional 107,127 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Xerox by 4.8% during the third quarter. Empowered Funds LLC now owns 560,536 shares of the information technology services provider’s stock worth $5,818,000 after purchasing an additional 25,590 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Xerox Trading Down 0.4 %

Shares of Xerox stock opened at $8.39 on Thursday. Xerox Holdings Co. has a 1 year low of $8.02 and a 1 year high of $19.78. The firm has a market cap of $1.04 billion, a PE ratio of 8.17 and a beta of 1.59. The stock has a fifty day moving average price of $9.72 and a 200-day moving average price of $11.22. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95.

Xerox (NYSE:XRX) last posted its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.26). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The firm’s revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS. Equities research analysts anticipate that Xerox Holdings Co. will post 1.38 EPS for the current year.

Xerox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 11.92%. Xerox’s payout ratio is -9.06%.

Analysts Set New Price Targets

A number of research firms recently commented on XRX. Morgan Stanley lowered their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a research report on Sunday. Loop Capital lowered their price target on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. decreased their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $9.50.

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.