BW Gestao de Investimentos Ltda. Buys New Position in Xerox Holdings Co. $XRX

BW Gestao de Investimentos Ltda. bought a new stake in shares of Xerox Holdings Co. (NASDAQ:XRX) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 700,000 shares of the information technology services provider’s stock, valued at approximately $1,659,000.

Several other hedge funds have also modified their holdings of the stock. Williams & Novak LLC purchased a new stake in Xerox during the 4th quarter worth approximately $27,000. Levin Capital Strategies L.P. purchased a new stake in Xerox during the 4th quarter worth approximately $36,000. Boothbay Fund Management LLC purchased a new stake in Xerox during the 3rd quarter worth approximately $43,000. Laurion Capital Management LP purchased a new stake in Xerox during the 3rd quarter worth approximately $46,000. Finally, Comerica Bank increased its holdings in Xerox by 159.0% during the 4th quarter. Comerica Bank now owns 19,915 shares of the information technology services provider’s stock worth $47,000 after purchasing an additional 12,226 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

XRX has been the topic of several analyst reports. Zacks Research upgraded Xerox from a “strong sell” rating to a “hold” rating in a report on Thursday, April 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Xerox in a report on Monday, April 27th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Xerox presently has an average rating of “Reduce” and a consensus target price of $2.50.

Xerox Price Performance

Shares of XRX opened at $3.29 on Wednesday. The firm has a market cap of $430.27 million, a price-to-earnings ratio of -0.40 and a beta of 2.40. The stock has a 50 day moving average of $1.98 and a 200-day moving average of $2.19. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 14.04. Xerox Holdings Co. has a 52 week low of $1.19 and a 52 week high of $6.80.

Xerox (NASDAQ:XRX) last issued its earnings results on Thursday, April 30th. The information technology services provider reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.09. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.78 billion. Xerox had a negative return on equity of 12.08% and a negative net margin of 14.09%.The business’s revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.06) EPS. As a group, analysts forecast that Xerox Holdings Co. will post 0.03 EPS for the current year.

Xerox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a $0.025 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.10 annualized dividend and a dividend yield of 3.0%. Xerox’s dividend payout ratio (DPR) is presently -1.20%.

Xerox 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.