Pacer Advisors Inc. Purchases 4,228,806 Shares of Xerox Holdings Co. (NYSE:XRX)

Pacer Advisors Inc. boosted its stake in Xerox Holdings Co. (NYSE:XRX) by 33.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,969,127 shares of the information technology services provider’s stock after purchasing an additional 4,228,806 shares during the quarter. Pacer Advisors Inc. owned approximately 0.14% of Xerox worth $176,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. CWM LLC boosted its stake in Xerox by 155.5% in the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 1,378 shares during the period. EntryPoint Capital LLC bought a new position in Xerox in the 1st quarter worth about $45,000. Gladius Capital Management LP bought a new position in Xerox in the 3rd quarter worth about $29,000. US Bancorp DE raised its holdings in shares of Xerox by 42.3% in the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after acquiring an additional 1,888 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new stake in shares of Xerox in the 1st quarter valued at about $115,000. Institutional investors own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on XRX shares. StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a report on Sunday. Morgan Stanley lowered their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Finally, Loop Capital decreased their price objective on 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 and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Xerox currently has a consensus rating of “Reduce” and a consensus target price of $9.50.

Xerox Price Performance

Shares of Xerox stock opened at $8.39 on Thursday. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95. The business’s 50 day simple moving average is $9.72 and its two-hundred day simple moving average is $11.22. The stock has a market capitalization of $1.04 billion, a P/E ratio of 8.17 and a beta of 1.59. Xerox Holdings Co. has a one year low of $8.02 and a one year high of $19.78.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. Xerox’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period last year, the firm earned $0.46 earnings per share. Analysts forecast that Xerox Holdings Co. will post 1.38 EPS for the current year.

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 11.92%. Xerox’s dividend payout ratio (DPR) is currently -9.06%.

Xerox 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.