First Eagle Investment Management LLC Purchases 1,030,000 Shares of Xerox Holdings Co. $XRX

First Eagle Investment Management LLC lifted its holdings in shares of Xerox Holdings Co. (NASDAQ:XRX) by 89.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,182,500 shares of the information technology services provider’s stock after buying an additional 1,030,000 shares during the period. First Eagle Investment Management LLC’s holdings in Xerox were worth $5,173,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in XRX. Jacobs Levy Equity Management Inc. raised its position in Xerox by 123.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,528,219 shares of the information technology services provider’s stock valued at $5,746,000 after purchasing an additional 843,504 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Xerox by 104.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,585,215 shares of the information technology services provider’s stock valued at $3,900,000 after buying an additional 809,861 shares during the period. Two Sigma Investments LP raised its holdings in Xerox by 43.2% in the 3rd quarter. Two Sigma Investments LP now owns 2,476,689 shares of the information technology services provider’s stock valued at $9,312,000 after buying an additional 746,582 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Xerox by 92.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,392,028 shares of the information technology services provider’s stock worth $5,234,000 after buying an additional 669,810 shares during the period. Finally, Paradigm Capital Management Inc. NY boosted its position in Xerox by 45.3% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,810,248 shares of the information technology services provider’s stock worth $9,540,000 after buying an additional 564,048 shares during the period. Institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on XRX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xerox in a research report on Monday, April 27th. Citigroup reissued a “neutral” rating and issued a $2.50 price objective (down from $3.50) on shares of Xerox in a research note on Friday, January 30th. Finally, Zacks Research raised Xerox from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 30th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Xerox presently has an average rating of “Reduce” and a consensus price target of $2.50.

Xerox Stock Down 7.0%

Xerox stock opened at $2.54 on Thursday. The company has a market capitalization of $332.18 million, a PE ratio of -0.31 and a beta of 2.28. Xerox Holdings Co. has a 12-month low of $1.19 and a 12-month high of $6.80. The firm’s fifty day moving average is $1.68 and its 200 day moving average is $2.22. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 14.04.

Xerox (NASDAQ:XRX) last posted its quarterly earnings results on Thursday, April 30th. The information technology services provider reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09. Xerox had a negative net margin of 14.09% and a negative return on equity of 12.08%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the company posted ($0.06) earnings per share. The business’s quarterly revenue was up 26.7% on a year-over-year basis. As a group, sell-side analysts predict that Xerox Holdings Co. will post 0.16 EPS for the current fiscal year.

Xerox Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were paid a $0.025 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 3.9%. Xerox’s dividend payout ratio (DPR) is currently -1.20%.

About Xerox

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.