Nuveen Asset Management LLC Increases Stock Holdings in Xerox Holdings Co. (NYSE:XRX)

Nuveen Asset Management LLC boosted its stake in Xerox Holdings Co. (NYSE:XRX - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 997,349 shares of the information technology services provider's stock after purchasing an additional 60,283 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.80% of Xerox worth $8,408,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Marshall Wace LLP boosted its position in shares of Xerox by 397.5% in the fourth quarter. Marshall Wace LLP now owns 1,378,215 shares of the information technology services provider's stock valued at $11,618,000 after acquiring an additional 1,101,171 shares during the period. BNP Paribas Financial Markets purchased a new stake in Xerox in the 4th quarter worth approximately $4,101,000. Susquehanna Fundamental Investments LLC bought a new position in Xerox in the 4th quarter valued at $3,067,000. Victory Capital Management Inc. increased its stake in Xerox by 164.8% in the 4th quarter. Victory Capital Management Inc. now owns 546,536 shares of the information technology services provider's stock worth $4,607,000 after acquiring an additional 340,168 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Xerox by 47.5% in the 4th quarter. First Trust Advisors LP now owns 990,120 shares of the information technology services provider's stock valued at $8,347,000 after acquiring an additional 318,750 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Insider Activity

In other news, CEO Steven John Bandrowczak purchased 22,300 shares of the business's stock in a transaction on Friday, May 23rd. The shares were acquired at an average price of $4.48 per share, with a total value of $99,904.00. Following the acquisition, the chief executive officer now directly owns 382,442 shares in the company, valued at approximately $1,713,340.16. The trade was a 6.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mirlanda Gecaj acquired 10,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were purchased at an average cost of $4.41 per share, with a total value of $44,100.00. Following the completion of the purchase, the chief financial officer now owns 15,956 shares of the company's stock, valued at approximately $70,365.96. The trade was a 167.90% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 82,300 shares of company stock valued at $364,254. 1.50% of the stock is currently owned by insiders.

Xerox Price Performance

Shares of NYSE XRX traded down $0.05 during trading hours on Friday, reaching $4.85. 3,788,253 shares of the stock traded hands, compared to its average volume of 3,002,871. The company's 50-day simple moving average is $4.67 and its two-hundred day simple moving average is $6.94. The company has a market capitalization of $610.08 million, a P/E ratio of -0.45 and a beta of 1.75. Xerox Holdings Co. has a 52-week low of $3.45 and a 52-week high of $14.81. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61.

Xerox (NYSE:XRX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The information technology services provider reported ($0.06) earnings per share 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 quarter in the prior year, the business earned $0.06 earnings per share. The company's revenue was down 3.0% on a year-over-year basis. Equities research analysts forecast that Xerox Holdings Co. will post 1.07 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Xerox from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Three research 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.