Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Xerox Holdings Co. (NASDAQ:XRX – Free Report) by 104.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,585,215 shares of the information technology services provider’s stock after acquiring an additional 809,861 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Xerox were worth $3,900,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Captrust Financial Advisors purchased a new position in shares of Xerox in the second quarter worth $58,000. Socha Financial Group LLC purchased a new position in shares of Xerox in the third quarter worth $43,000. Boothbay Fund Management LLC purchased a new position in shares of Xerox in the third quarter worth $43,000. Tower Research Capital LLC TRC raised its stake in shares of Xerox by 189.8% in the second quarter. Tower Research Capital LLC TRC now owns 11,990 shares of the information technology services provider’s stock worth $63,000 after purchasing an additional 7,852 shares during the last quarter. Finally, Laurion Capital Management LP bought a new stake in shares of Xerox in the third quarter worth $46,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.
Xerox Stock Performance
Shares of XRX opened at $2.66 on Tuesday. The company has a debt-to-equity ratio of 14.04, a current ratio of 1.18 and a quick ratio of 0.85. Xerox Holdings Co. has a one year low of $1.19 and a one year high of $6.80. The firm has a market capitalization of $347.87 million, a P/E ratio of -0.32 and a beta of 2.28. The business has a fifty day moving average of $1.65 and a 200 day moving average of $2.23.
Xerox Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Tuesday, March 31st were given a dividend of $0.025 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.10 annualized dividend and a yield of 3.8%. Xerox’s payout ratio is -1.20%.
Wall Street Analyst Weigh In
XRX has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xerox in a report on Monday, April 27th. Citigroup reaffirmed a “neutral” rating and issued a $2.50 price objective (down from $3.50) on shares of Xerox in a report on Friday, January 30th. Finally, Zacks Research raised Xerox from a “strong sell” rating to a “hold” rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Xerox currently has an average rating of “Reduce” and an average price target of $2.50.
Read Our Latest Analysis on XRX
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.
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