Xerox Holdings Co. $XRX Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in shares of Xerox Holdings Co. (NASDAQ:XRX) by 92.7% in the third quarter, HoldingsChannel.com reports. The fund owned 1,392,028 shares of the information technology services provider’s stock after acquiring an additional 669,810 shares during the quarter. JPMorgan Chase & Co.’s holdings in Xerox were worth $5,234,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in XRX. Captrust Financial Advisors acquired a new position in shares of Xerox in the second quarter valued at about $58,000. Socha Financial Group LLC acquired a new stake in shares of Xerox during the third quarter worth about $43,000. Boothbay Fund Management LLC purchased a new stake in Xerox in the third quarter valued at approximately $43,000. Tower Research Capital LLC TRC increased its holdings in Xerox by 189.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,990 shares of the information technology services provider’s stock worth $63,000 after buying an additional 7,852 shares during the period. Finally, Laurion Capital Management LP purchased a new position in Xerox during the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Stock Down 2.3%

Shares of XRX stock opened at $1.26 on Thursday. Xerox Holdings Co. has a twelve month low of $1.26 and a twelve month high of $6.80. The stock has a market cap of $162.06 million, a P/E ratio of -0.15 and a beta of 1.80. The stock has a 50 day moving average of $1.82 and a 200 day moving average of $2.58. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 8.94.

Xerox (NASDAQ:XRX) last issued its quarterly earnings data on Thursday, January 29th. The information technology services provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.25). The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.08 billion. Xerox had a negative return on equity of 8.26% and a negative net margin of 14.65%.Xerox’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 EPS. As a group, sell-side analysts expect that Xerox Holdings Co. will post 1.07 EPS for the current year.

Xerox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 7.9%. The ex-dividend date is Tuesday, March 31st. Xerox’s dividend payout ratio (DPR) is currently -1.22%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup restated a “neutral” rating and set a $2.50 price objective (down from $3.50) on shares of Xerox in a research note on Friday, January 30th. Zacks Research cut shares of Xerox from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 3rd. Finally, Weiss Ratings assumed coverage on shares of Xerox in a research report on Wednesday, January 28th. They set a “sell (d-)” rating for the company. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Sell” and an average price target of $2.50.

Xerox 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.