Headlands Technologies LLC Takes Position in Xerox Holdings Co. $XRX

Headlands Technologies LLC bought a new position in shares of Xerox Holdings Co. (NASDAQ:XRX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 248,792 shares of the information technology services provider’s stock, valued at approximately $779,000.

A number of other institutional investors have also modified their holdings of the business. S Harris Financial Group LLC purchased a new stake in Xerox in the 4th quarter valued at $25,000. Captrust Financial Advisors purchased a new position in Xerox during the 2nd quarter worth $58,000. Williams & Novak LLC purchased a new position in Xerox during the 4th quarter worth $27,000. Boothbay Fund Management LLC acquired a new position in Xerox in the third quarter valued at $43,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Xerox by 189.8% in the second quarter. Tower Research Capital LLC TRC now owns 11,990 shares of the information technology services provider’s stock valued at $63,000 after buying an additional 7,852 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Xerox Stock Performance

NASDAQ XRX opened at $3.16 on Wednesday. The stock has a market capitalization of $414.97 million, a price-to-earnings ratio of -0.43 and a beta of 2.42. The business’s 50 day moving average is $2.95 and its two-hundred day moving average is $2.43. Xerox Holdings Co. has a 12-month low of $1.19 and a 12-month high of $4.27. 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) last posted 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. Xerox had a positive return on equity of 17.61% and a negative net margin of 11.93%.The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same period last year, the firm earned ($0.64) EPS. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. Research analysts expect that Xerox Holdings Co. will post 0.17 EPS for the current year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be issued a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.10 dividend on an annualized basis and a yield of 3.2%. Xerox’s dividend payout ratio (DPR) is -1.36%.

Analyst Upgrades and Downgrades

XRX has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xerox in a research note on Friday, July 24th. Needham & Company LLC set a $5.00 price target on Xerox in a research report on Tuesday, August 18th. Noble Financial initiated coverage on Xerox in a research report on Tuesday, August 18th. They set an “outperform” rating and a $5.00 price objective for the company. Finally, Citigroup reiterated a “neutral” rating and issued a $3.45 target price (up from $2.50) on shares of Xerox in a research note on Friday, July 31st. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Xerox has a consensus rating of “Hold” and a consensus target price of $4.48.

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.