Susquehanna Fundamental Investments LLC Raises Holdings in Xerox Holdings Co. (NYSE:XRX)

Susquehanna Fundamental Investments LLC increased its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 108.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 140,809 shares of the information technology services provider’s stock after buying an additional 73,413 shares during the quarter. Susquehanna Fundamental Investments LLC owned about 0.11% of Xerox worth $1,636,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its position in shares of Xerox by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 63,666 shares of the information technology services provider’s stock valued at $740,000 after acquiring an additional 1,627 shares during the period. AQR Capital Management LLC grew its stake 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 valued at $2,081,000 after buying an additional 76,886 shares during the period. Caxton Associates LP grew its stake in shares of Xerox by 34.3% during the 2nd quarter. Caxton Associates LP now owns 362,733 shares of the information technology services provider’s stock valued at $4,215,000 after buying an additional 92,687 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Xerox during the 2nd quarter valued at $1,034,000. Finally, Squarepoint Ops LLC purchased a new stake in Xerox during the 2nd quarter worth $1,031,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analysts Set New Price Targets

XRX has been the topic of a number of recent analyst reports. Citigroup initiated coverage on shares of Xerox in a report on Friday, June 28th. They issued a “sell” rating and a $11.00 price objective on the stock. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Finally, Loop Capital cut their price objective on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Xerox has an average rating of “Hold” and a consensus target price of $12.75.

Xerox Stock Performance

Shares of Xerox stock opened at $10.15 on Wednesday. The firm has a market cap of $1.26 billion, a PE ratio of -6.46 and a beta of 1.57. Xerox Holdings Co. has a 1 year low of $9.51 and a 1 year high of $19.78. The firm’s 50-day simple moving average is $10.47 and its 200-day simple moving average is $12.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.49.

Xerox (NYSE:XRX) last released its quarterly earnings data on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. Xerox’s revenue was down 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. Equities analysts forecast that Xerox Holdings Co. will post 1.79 earnings per share for the current fiscal year.

Xerox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 9.85%. Xerox’s dividend payout ratio (DPR) is -63.69%.

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.