Kovack Advisors Inc. Sells 3,850 Shares of Xerox Holdings Co. (NYSE:XRX)

Kovack Advisors Inc. cut its holdings in Xerox Holdings Co. (NYSE:XRX) by 7.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 46,250 shares of the information technology services provider’s stock after selling 3,850 shares during the period. Kovack Advisors Inc.’s holdings in Xerox were worth $848,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in XRX. FNY Investment Advisers LLC bought a new position in Xerox in the 4th quarter valued at approximately $25,000. GAMMA Investing LLC bought a new position in shares of Xerox during the 4th quarter valued at $25,000. Hexagon Capital Partners LLC lifted its holdings in shares of Xerox by 87.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,627 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 758 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Xerox by 1,733.2% during the 4th quarter. International Assets Investment Management LLC now owns 4,583 shares of the information technology services provider’s stock valued at $84,000 after buying an additional 4,333 shares during the period. Finally, C M Bidwell & Associates Ltd. lifted its holdings in shares of Xerox by 5,572.3% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 8,395 shares of the information technology services provider’s stock valued at $132,000 after buying an additional 8,247 shares during the period. 85.36% of the stock is owned by institutional investors.

Xerox Trading Down 1.3 %

NYSE:XRX opened at $14.00 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.37 and a quick ratio of 0.91. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 10.07 and a beta of 1.56. Xerox Holdings Co. has a one year low of $12.06 and a one year high of $19.78. The business has a fifty day moving average price of $17.23 and a 200-day moving average price of $16.29.

Xerox (NYSE:XRX) last posted its quarterly earnings data on Tuesday, April 23rd. The information technology services provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.29). The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. Sell-side analysts forecast that Xerox Holdings Co. will post 2.16 EPS for the current year.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 7.14%. Xerox’s payout ratio is presently -63.69%.

Analysts Set New Price Targets

Several research firms have recently weighed in on XRX. StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their price target on Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a report on Wednesday.

Xerox Company 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.