Xerox (NYSE:XRX) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Xerox (NYSE:XRX) from a buy rating to a hold rating in a report issued on Wednesday.

A number of other brokerages have also recently weighed in on XRX. Morgan Stanley reduced their price target on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $9.50.

Xerox Trading Down 6.4 %

XRX opened at $7.85 on Wednesday. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. Xerox has a one year low of $7.81 and a one year high of $19.48. The company has a market cap of $976.30 million, a P/E ratio of -0.73 and a beta of 1.59. The business’s 50-day simple moving average is $8.85 and its 200-day simple moving average is $9.59.

Institutional Trading of Xerox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. boosted its stake in shares of Xerox by 9.5% during 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 during the last quarter. Charles Schwab Investment Management Inc. boosted 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 worth $17,850,000 after acquiring an additional 107,580 shares during the last quarter. Sound Income Strategies LLC raised its holdings in Xerox by 6.7% in the 4th 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 acquiring an additional 69,182 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Xerox by 75.2% during the 2nd quarter. AQR Capital Management LLC now owns 179,118 shares of the information technology services provider’s stock worth $2,081,000 after acquiring an additional 76,886 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Xerox by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock valued at $29,161,000 after purchasing an additional 62,947 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

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.