Xerox Holdings Co. $XRX Stock Sold by Private Management Group Inc.

Private Management Group Inc. reduced its holdings in shares of Xerox Holdings Co. (NASDAQ:XRX) by 35.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 909,102 shares of the information technology services provider’s stock after selling 498,480 shares during the quarter. Private Management Group Inc. owned approximately 0.69% of Xerox worth $2,877,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in XRX. Paradigm Capital Management Inc. NY acquired a new stake in Xerox during the 2nd quarter valued at $5,626,000. Renaissance Technologies LLC boosted its position in Xerox by 926.4% during the first 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 during the period. Squarepoint Ops LLC boosted its position in Xerox by 0.6% during the second quarter. Squarepoint Ops LLC now owns 584,825 shares of the information technology services provider’s stock worth $1,831,000 after purchasing an additional 3,689 shares during the period. Gamco Investors INC. ET AL increased its holdings in shares of Xerox by 1.8% in the first quarter. Gamco Investors INC. ET AL now owns 564,000 shares of the information technology services provider’s stock valued at $728,000 after purchasing an additional 9,800 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Xerox in the second quarter valued at $1,313,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Xerox Stock Performance

Shares of Xerox stock opened at $1.07 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.80 and a debt-to-equity ratio of 12.58. The company has a market cap of $142.53 million, a PE ratio of -0.12 and a beta of 2.65. The company has a 50 day moving average of $2.72 and a 200-day moving average of $2.48. Xerox Holdings Co. has a 1-year low of $1.01 and a 1-year high of $3.78.

Xerox (NASDAQ:XRX) last released its quarterly earnings data on Thursday, October 29th. The information technology services provider reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.09. The business had revenue of $1.87 billion for the quarter. Xerox had a positive return on equity of 53.07% and a negative net margin of 15.40%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business earned $0.20 earnings per share. As a group, equities research analysts forecast that Xerox Holdings Co. will post 0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Needham & Company LLC set a $5.00 price objective on shares of Xerox in a research report on Tuesday, August 18th. Noble Financial started coverage on shares of Xerox in a report on Tuesday, August 18th. They set an “outperform” rating and a $5.00 target price for the company. Citigroup decreased their price target on shares of Xerox from $2.50 to $1.50 and set a “sell” rating on the stock in a research note on Friday, October 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Xerox in a research note on Thursday, October 22nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Xerox has an average rating of “Reduce” and an average price target of $3.83.

Xerox Profile

Xerox Holdings Corporation (NASDAQ:XRX) is a technology and workplace solutions company that provides printing, document management and digital services to businesses and other organizations. The company serves customers across a range of industries, including government, education, healthcare, financial services and professional services. Xerox offers office printers, multifunction devices, production printers and related supplies, software and support services. Its portfolio also includes document workflow and content-management solutions designed to help organizations digitize, automate and manage business processes.