Renaissance Technologies LLC Buys 582,724 Shares of Xerox Holdings Co. $XRX

Key Points

• Renaissance Technologies increased its Xerox position by 926.4%, purchasing 582,724 additional shares to hold 645,624 shares, worth approximately $833,000.
• Analyst sentiment remains cautious: Xerox has a consensus “Reduce” rating and a $3.45 price target, with two Hold ratings and one Sell rating. Institutional investors own 85.36% of the company.
• Xerox reported quarterly earnings of $0.38 per share, beating estimates of $0.06, while revenue reached $1.92 billion. The company also declared a quarterly dividend of $0.025 per share, representing a 3.2% annualized yield.

Renaissance Technologies LLC grew its position in Xerox Holdings Co. (NASDAQ:XRX - Free Report) by 926.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 645,624 shares of the information technology services provider's stock after purchasing an additional 582,724 shares during the period. Renaissance Technologies LLC owned about 0.49% of Xerox worth $833,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in XRX. S Harris Financial Group LLC acquired a new position in Xerox in the fourth quarter valued at about $25,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Xerox during the first quarter worth approximately $25,000. Captrust Financial Advisors acquired a new stake in shares of Xerox during the fourth quarter worth approximately $26,000. Williams & Novak LLC bought a new position in shares of Xerox in the fourth quarter valued at approximately $27,000. Finally, Arkadios Wealth Advisors acquired a new position in shares of Xerox in the 4th quarter worth approximately $35,000. Institutional investors own 85.36% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on XRX shares. Weiss Ratings restated a "sell (d-)" rating on shares of Xerox in a research report on Friday, July 24th. Citigroup reiterated a "neutral" rating and issued a $3.45 price objective (up from $2.50) on shares of Xerox in a research report on Friday, July 31st. Finally, Zacks Research raised Xerox from a "strong sell" rating to a "hold" rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Xerox currently has a consensus rating of "Reduce" and a consensus price target of $3.45.

Xerox Trading Down 1.3%

Shares of NASDAQ XRX opened at $3.10 on Friday. Xerox Holdings Co. has a 1-year low of $1.19 and a 1-year high of $4.27. The company has a 50-day moving average of $3.02 and a two-hundred day moving average of $2.36. The company has a market cap of $407.09 million, a PE ratio of -0.42 and a beta of 2.40. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 12.58.

Xerox (NASDAQ:XRX - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The information technology services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.06 by $0.32. The business had revenue of $1.92 billion for the quarter, compared to analysts' expectations of $1.90 billion. Xerox had a negative net margin of 11.93% and a positive return on equity of 17.61%. Xerox's revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.64) earnings per share. As a group, equities analysts expect that Xerox Holdings Co. will post 0.19 earnings per share for the current fiscal year.

Xerox Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, September 30th. Xerox's dividend payout ratio (DPR) is presently -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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