Occudo Quantitative Strategies LP Makes New Investment in Xerox Holdings Co. (NYSE:XRX)

Occudo Quantitative Strategies LP acquired a new position in shares of Xerox Holdings Co. (NYSE:XRX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,359 shares of the information technology services provider’s stock, valued at approximately $87,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Xerox by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,209 shares of the information technology services provider’s stock worth $558,000 after purchasing an additional 2,320 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Xerox during the fourth quarter worth about $835,000. Gotham Asset Management LLC acquired a new position in shares of Xerox during the fourth quarter worth about $525,000. Graham Capital Management L.P. acquired a new position in shares of Xerox during the fourth quarter worth about $752,000. Finally, Deutsche Bank AG lifted its stake in shares of Xerox by 103.8% during the fourth quarter. Deutsche Bank AG now owns 138,852 shares of the information technology services provider’s stock worth $1,171,000 after purchasing an additional 70,724 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $9.50.

Xerox Stock Up 1.8%

Shares of NYSE XRX opened at $5.54 on Monday. Xerox Holdings Co. has a 1 year low of $3.45 and a 1 year high of $14.81. The firm has a market cap of $696.88 million, a price-to-earnings ratio of -0.52 and a beta of 1.75. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The stock’s 50-day simple moving average is $4.82 and its 200-day simple moving average is $7.17.

Xerox (NYSE:XRX) last announced its earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%. During the same period in the previous year, the business earned $0.06 EPS. Xerox’s revenue was down 3.0% on a year-over-year basis. As a group, equities analysts anticipate that Xerox Holdings Co. will post 1.07 earnings per share for the current fiscal year.

Xerox Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 9.03%. The ex-dividend date was Monday, March 31st. Xerox’s dividend payout ratio is currently -4.74%.

About Xerox

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.