Renaissance Technologies LLC Has $833,000 Stock Position in Xerox Holdings Co. $XRX

Renaissance Technologies LLC boosted its position in shares of Xerox Holdings Co. (NASDAQ:XRX) by 926.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 645,624 shares of the information technology services provider’s stock after purchasing an additional 582,724 shares during the quarter. Renaissance Technologies LLC’s holdings in Xerox were worth $833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. AQR Capital Management LLC grew its position in shares of Xerox by 71.7% during the 1st quarter. AQR Capital Management LLC now owns 345,631 shares of the information technology services provider’s stock worth $1,661,000 after buying an additional 144,280 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Xerox by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,047 shares of the information technology services provider’s stock valued at $333,000 after acquiring an additional 2,838 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Xerox by 37.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,575,229 shares of the information technology services provider’s stock worth $7,608,000 after acquiring an additional 431,349 shares during the period. Empowered Funds LLC raised its position in shares of Xerox by 2.1% during the 1st quarter. Empowered Funds LLC now owns 619,381 shares of the information technology services provider’s stock valued at $2,992,000 after acquiring an additional 12,633 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Xerox by 9.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,018 shares of the information technology services provider’s stock valued at $2,898,000 after acquiring an additional 50,467 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Xerox Trading Down 1.3%

Shares of NASDAQ XRX opened at $3.10 on Friday. Xerox Holdings Co. has a twelve month low of $1.19 and a twelve month high of $4.27. The stock has a market cap of $407.09 million, a price-to-earnings ratio of -0.42 and a beta of 2.40. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 12.58. The company’s fifty day moving average is $3.02 and its 200-day moving average is $2.36.

Xerox (NASDAQ:XRX) last released its quarterly earnings data on Thursday, July 30th. The information technology services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.32. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Xerox had a negative net margin of 11.93% and a positive return on equity of 17.61%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.64) EPS. Equities research analysts predict that Xerox Holdings Co. will post 0.19 EPS for the current year.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.2%. Xerox’s dividend payout ratio (DPR) is currently -1.36%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on XRX. Zacks Research upgraded Xerox from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 30th. Citigroup reissued a “neutral” rating and issued a $3.45 target price (up from $2.50) on shares of Xerox in a research note on Friday, July 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Xerox in a report on Friday, July 24th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $3.45.

Xerox Company Profile

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.