Louisiana State Employees Retirement System Takes Position in Xerox Holdings Co. (NYSE:XRX)

Louisiana State Employees Retirement System acquired a new position in Xerox Holdings Co. (NYSE:XRX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 56,600 shares of the information technology services provider's stock, valued at approximately $1,037,000.

A number of other hedge funds have also made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Xerox by 74.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 14,902 shares of the information technology services provider's stock valued at $273,000 after buying an additional 6,369 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Xerox by 49.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 48,257 shares of the information technology services provider's stock valued at $885,000 after purchasing an additional 15,920 shares during the period. International Assets Investment Management LLC lifted its position in shares of Xerox by 1,733.2% during the fourth quarter. International Assets Investment Management LLC now owns 4,583 shares of the information technology services provider's stock worth $84,000 after purchasing an additional 4,333 shares in the last quarter. SteelPeak Wealth LLC purchased a new position in shares of Xerox in the fourth quarter valued at $496,000. Finally, Brave Asset Management Inc. grew its holdings in Xerox by 50.4% during the 4th quarter. Brave Asset Management Inc. now owns 20,900 shares of the information technology services provider's stock valued at $383,000 after purchasing an additional 7,000 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Xerox Stock Performance

Shares of NYSE XRX traded down $0.20 during midday trading on Thursday, hitting $14.18. The company's stock had a trading volume of 3,045,427 shares, compared to its average volume of 2,427,892. The firm has a market cap of $1.76 billion, a P/E ratio of -9.03 and a beta of 1.56. Xerox Holdings Co. has a 1-year low of $12.06 and a 1-year high of $19.78. The firm's fifty day moving average price is $17.32 and its 200-day moving average price is $16.29. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 1.37.

Xerox (NYSE:XRX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.29). Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the business posted $0.49 EPS. The company's revenue for the quarter was down 12.8% on a year-over-year basis. On average, sell-side analysts forecast that Xerox Holdings Co. will post 2.31 EPS for the current fiscal year.

Xerox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.05%. Xerox's dividend payout ratio (DPR) is presently -63.69%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Xerox from $18.00 to $17.00 and set an "underweight" rating for the company in a research report on Wednesday. StockNews.com downgraded Xerox from a "buy" rating to a "hold" rating in a report on Wednesday.

Xerox 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.