Paradigm Capital Management Inc. NY Takes Position in Xerox Holdings Co. $XRX

Key Points

• Paradigm Capital Management acquired 1.8 million Xerox shares valued at approximately $5.6 million, representing about 1.37% of the company. Institutional investors and hedge funds collectively own 85.36% of Xerox.
• Analyst sentiment remains mixed, with Xerox carrying an overall “Hold” rating and an average price target of $4.48; individual ratings range from Buy to Sell.
• Xerox reported quarterly EPS of $0.38, beating the $0.06 consensus estimate, while revenue rose 22% year over year to $1.92 billion. The company also declared a quarterly dividend of $0.025 per share, implying a 3.5% annualized yield.

Paradigm Capital Management Inc. NY bought a new position in shares of Xerox Holdings Co. (NASDAQ:XRX - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 1,797,300 shares of the information technology services provider's stock, valued at approximately $5,626,000. Paradigm Capital Management Inc. NY owned approximately 1.37% of Xerox as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. S Harris Financial Group LLC bought a new position in Xerox during the fourth quarter worth about $25,000. Chicago Partners Investment Group LLC acquired a new position in shares of Xerox in the 1st quarter valued at $25,000. Captrust Financial Advisors acquired a new position in Xerox in the fourth quarter valued at about $26,000. Williams & Novak LLC bought a new stake in shares of Xerox in the fourth quarter worth about $27,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Xerox during the fourth quarter worth about $35,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on XRX. Zacks Research upgraded Xerox from a "strong sell" rating to a "hold" rating in a report on Thursday, April 30th. Needham & Company LLC set a $5.00 target price on Xerox in a research note on Tuesday, August 18th. Noble Financial assumed coverage on shares of Xerox in a report on Tuesday, August 18th. They set an "outperform" rating and a $5.00 target price on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Xerox in a report on Friday, July 24th. Finally, Citigroup reissued a "neutral" rating and set a $3.45 price objective (up from $2.50) on shares of Xerox in a research report on Friday, July 31st. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Xerox presently has an average rating of "Hold" and an average target price of $4.48.

Xerox Stock Down 1.7%

XRX stock opened at $2.85 on Tuesday. The company has a debt-to-equity ratio of 12.58, a current ratio of 1.18 and a quick ratio of 0.85. The stock has a market capitalization of $374.25 million, a P/E ratio of -0.39 and a beta of 2.40. Xerox Holdings Co. has a fifty-two week low of $1.19 and a fifty-two week high of $4.27. The business has a 50-day moving average of $2.95 and a 200-day moving average of $2.39.

Xerox (NASDAQ:XRX - Get Free Report) last announced its earnings results on Thursday, July 30th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.32. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.90 billion. Xerox had a positive return on equity of 17.61% and a negative net margin of 11.93%.Xerox's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.64) EPS. On average, sell-side analysts anticipate that Xerox Holdings Co. will post 0.17 earnings per share for the current fiscal year.

Xerox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a $0.025 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.5%. Xerox's dividend payout ratio (DPR) is -1.36%.

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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