Cubist Systematic Strategies LLC Trims Holdings in Xerox Holdings Co. (NYSE:XRX)

Cubist Systematic Strategies LLC decreased its position in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 95.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,700 shares of the information technology services provider's stock after selling 244,121 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Xerox were worth $107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of Xerox by 5.9% during the 4th quarter. Invesco Ltd. now owns 1,706,086 shares of the information technology services provider's stock worth $14,382,000 after purchasing an additional 94,779 shares during the last quarter. Vanguard Group Inc. raised its stake in Xerox by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider's stock valued at $132,888,000 after buying an additional 199,598 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Xerox by 12.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 476,266 shares of the information technology services provider's stock valued at $4,015,000 after buying an additional 52,104 shares during the last quarter. Empowered Funds LLC raised its stake in Xerox by 8.2% in the fourth quarter. Empowered Funds LLC now owns 606,748 shares of the information technology services provider's stock valued at $5,115,000 after buying an additional 46,212 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Xerox by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider's stock valued at $15,276,000 after purchasing an additional 92,495 shares during the period. Institutional investors own 85.36% of the company's stock.

Xerox Stock Performance

Xerox stock traded down $0.63 during midday trading on Friday, hitting $4.49. 13,368,112 shares of the company were exchanged, compared to its average volume of 2,951,508. The firm has a market capitalization of $564.80 million, a PE ratio of -0.42 and a beta of 1.75. Xerox Holdings Co. has a fifty-two week low of $3.45 and a fifty-two week high of $14.81. The business has a fifty day simple moving average of $4.74 and a two-hundred day simple moving average of $7.06. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11.

Xerox (NYSE:XRX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The information technology services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. During the same period last year, the business earned $0.06 earnings per share. Xerox's revenue for the quarter was down 3.0% on a year-over-year basis. On average, sell-side analysts forecast that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Xerox from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $9.50.

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.