Point72 Asset Management L.P. Boosts Stake in Xerox Holdings Co. (NYSE:XRX)

Point72 Asset Management L.P. lifted its stake in Xerox Holdings Co. (NYSE:XRX - Free Report) by 2,846.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,128,973 shares of the information technology services provider's stock after purchasing an additional 1,090,661 shares during the quarter. Point72 Asset Management L.P. owned about 0.91% of Xerox worth $9,517,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC raised its holdings in Xerox by 55.5% in the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider's stock worth $4,869,000 after acquiring an additional 167,500 shares during the last quarter. Sound Income Strategies LLC raised its holdings in Xerox by 6.7% in the 4th quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider's stock worth $9,296,000 after acquiring an additional 69,182 shares during the last quarter. KBC Group NV raised its holdings in Xerox by 84.5% in the 4th quarter. KBC Group NV now owns 9,223 shares of the information technology services provider's stock worth $78,000 after acquiring an additional 4,224 shares during the last quarter. Prism Advisors Inc. purchased a new position in Xerox in the 4th quarter worth approximately $103,000. Finally, Yousif Capital Management LLC raised its holdings in Xerox by 2.8% in the 4th quarter. Yousif Capital Management LLC now owns 53,816 shares of the information technology services provider's stock worth $454,000 after acquiring an additional 1,486 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Xerox Stock Performance

XRX traded down $0.63 during mid-day trading on Friday, reaching $4.49. 13,368,112 shares of the company traded hands, compared to its average volume of 2,951,508. The stock has a market capitalization of $564.80 million, a P/E ratio of -0.42 and a beta of 1.75. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The company's fifty day moving average price is $4.74 and its 200-day moving average price is $7.06. Xerox Holdings Co. has a 52-week low of $3.45 and a 52-week high of $14.81.

Xerox (NYSE:XRX - Get Free Report) last announced its earnings results 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 negative net margin of 21.24% and a positive return on equity of 7.57%. The company's revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. On average, sell-side analysts expect that Xerox Holdings Co. will post 1.07 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of 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. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $9.50.

Xerox Company 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.