Edgestream Partners L.P. Decreases Stake in Xerox Holdings Co. (NYSE:XRX)

Edgestream Partners L.P. lowered its holdings in Xerox Holdings Co. (NYSE:XRX) by 35.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,022 shares of the information technology services provider’s stock after selling 45,503 shares during the quarter. Edgestream Partners L.P. owned 0.05% of Xerox worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Quarry LP purchased a new stake in Xerox during the first quarter valued at $29,000. National Bank of Canada FI increased its position in Xerox by 133.8% in the second quarter. National Bank of Canada FI now owns 3,872 shares of the information technology services provider’s stock worth $58,000 after buying an additional 2,216 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Xerox in the second quarter worth about $75,000. US Bancorp DE increased its position in Xerox by 68.1% in the second quarter. US Bancorp DE now owns 5,360 shares of the information technology services provider’s stock worth $80,000 after buying an additional 2,171 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Xerox in the first quarter worth about $83,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Xerox Price Performance

Shares of Xerox stock opened at $13.62 on Tuesday. The stock has a 50 day moving average of $14.45 and a 200 day moving average of $14.96. Xerox Holdings Co. has a 12 month low of $12.06 and a 12 month high of $18.00. The firm has a market cap of $1.67 billion, a PE ratio of 13.10 and a beta of 1.73. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.98.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, October 24th. The information technology services provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. Xerox had a return on equity of 11.59% and a net margin of 2.55%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company earned $0.19 earnings per share. The firm’s revenue was down 5.7% on a year-over-year basis. On average, research analysts expect that Xerox Holdings Co. will post 1.9 EPS for the current fiscal year.

Xerox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a yield of 7.34%. Xerox’s dividend payout ratio (DPR) is presently 96.15%.

Insider Buying and Selling at Xerox

In other Xerox news, EVP Suzan Morno-Wade sold 9,126 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $16.75, for a total transaction of $152,860.50. Following the sale, the executive vice president now directly owns 46,323 shares in the company, valued at $775,910.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Xerox news, EVP Suzan Morno-Wade sold 9,126 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $16.75, for a total transaction of $152,860.50. Following the sale, the executive vice president now directly owns 46,323 shares in the company, valued at $775,910.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Carl C. Icahn sold 34,245,314 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $15.84, for a total value of $542,445,773.76. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on XRX. Morgan Stanley reduced their price target on Xerox from $13.00 to $12.00 and set an “underweight” rating for the company in a research report on Wednesday, October 25th. JPMorgan Chase & Co. dropped their price objective on Xerox from $16.00 to $15.00 and set an “underweight” rating for the company in a research note on Wednesday, October 25th. Finally, StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a research note on Tuesday.

Xerox Profile

Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the Americas, Europe, the Middle East, Africa, India, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.