Paradigm Capital Management Inc. NY Buys New Shares in Xerox Holdings Co. $XRX

Paradigm Capital Management Inc. NY bought a new position in shares of Xerox Holdings Co. (NASDAQ:XRX) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 1,797,300 shares of the information technology services provider’s stock, valued at approximately $5,626,000.

Several other institutional investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in shares of Xerox by 926.4% during the 1st quarter. Renaissance Technologies LLC now owns 645,624 shares of the information technology services provider’s stock worth $833,000 after purchasing an additional 582,724 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Xerox by 89.4% in the fourth quarter. First Eagle Investment Management LLC now owns 2,182,500 shares of the information technology services provider’s stock valued at $5,173,000 after buying an additional 1,030,000 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Xerox by 104.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,585,215 shares of the information technology services provider’s stock worth $3,900,000 after buying an additional 809,861 shares during the last quarter. BW Gestao de Investimentos Ltda. acquired a new position in Xerox during the fourth quarter worth $1,659,000. Finally, Rangeley Capital LLC bought a new stake in Xerox during the first quarter worth $129,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on XRX shares. Noble Financial started coverage on shares of Xerox in a research report on Tuesday, August 18th. They issued an “outperform” rating and a $5.00 price objective for the company. Needham & Company LLC set a $5.00 target price on shares of Xerox in a report on Tuesday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xerox in a research note on Friday, July 24th. Zacks Research raised Xerox from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 30th. Finally, Citigroup restated a “neutral” rating and issued a $3.45 price objective (up from $2.50) on shares of Xerox in a research note on Friday, July 31st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.48.

Xerox Trading Down 1.7%

XRX stock opened at $2.85 on Tuesday. Xerox Holdings Co. has a one year low of $1.19 and a one year high of $4.27. The stock has a market cap of $374.25 million, a price-to-earnings ratio of -0.39 and a beta of 2.40. The company has a fifty day moving average price of $2.95 and a two-hundred day moving average price of $2.39. The company has a debt-to-equity ratio of 12.58, a current ratio of 1.18 and a quick ratio of 0.85.

Xerox (NASDAQ:XRX) last issued its quarterly earnings data on Thursday, July 30th. The information technology services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.32. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.90 billion. Xerox had a negative net margin of 11.93% and a positive return on equity of 17.61%. The company’s revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.64) earnings per share. Equities analysts anticipate that Xerox Holdings Co. will post 0.17 EPS for the current year.

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Xerox’s dividend payout ratio is currently -1.36%.

About Xerox

Xerox Holdings Corporation (NYSE: XRX) is a global provider of document management technology and services. The company designs and manufactures a broad range of multifunction printers, production printers, digital presses and related consumables. In addition to its hardware offerings, Xerox delivers software and workflow automation solutions, managed print services and cloud-based document platforms that help organizations optimize their information-intensive processes.

Founded in 1906 as The Haloid Photographic Company, Xerox pioneered xerographic imaging in the late 1940s, launching the first plain-paper copier in 1959.