Odyssean LLC Purchases 171,192 Shares of Xerox Holdings Co. $XRX

Odyssean LLC raised its position in Xerox Holdings Co. (NASDAQ:XRX) by 522.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 203,988 shares of the information technology services provider’s stock after purchasing an additional 171,192 shares during the quarter. Odyssean LLC owned 0.16% of Xerox worth $638,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of XRX. AXQ Capital LP bought a new position in shares of Xerox during the second quarter worth about $446,000. Headlands Technologies LLC bought a new stake in Xerox in the 2nd quarter valued at approximately $779,000. BRC Group Holdings Inc. bought a new stake in Xerox in the 2nd quarter valued at approximately $35,013,000. Paradigm Capital Management Inc. NY acquired a new position in Xerox during the 2nd quarter worth approximately $5,626,000. Finally, Great Lakes Advisors LLC bought a new position in shares of Xerox during the 2nd quarter worth approximately $45,000. 85.36% of the stock is currently owned by institutional investors.

Xerox Stock Performance

NASDAQ XRX opened at $2.98 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 12.58. The firm’s fifty day moving average price is $2.94 and its two-hundred day moving average price is $2.40. Xerox Holdings Co. has a 1 year low of $1.19 and a 1 year high of $4.27. The firm has a market capitalization of $391.33 million, a P/E ratio of -0.40 and a beta of 2.40.

Xerox (NASDAQ:XRX) last announced its quarterly earnings results on Thursday, July 30th. The information technology services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.32. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Xerox had a negative net margin of 11.93% and a positive return on equity of 17.61%. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.64) earnings per share. As a group, research analysts anticipate that Xerox Holdings Co. will post 0.17 EPS for the current year.

Xerox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, September 30th. Xerox’s dividend payout ratio (DPR) is -1.36%.

Wall Street Analyst Weigh In

XRX has been the topic of a number of recent research reports. Citigroup reiterated a “neutral” rating and issued a $3.45 price objective (up from $2.50) on shares of Xerox in a report on Friday, July 31st. Needham & Company LLC set a $5.00 price target on shares of Xerox in a research report on Tuesday, August 18th. Zacks Research upgraded shares of Xerox from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 30th. Noble Financial began coverage on Xerox in a report on Tuesday, August 18th. They issued an “outperform” rating and a $5.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Xerox in a report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Xerox currently has an average rating of “Hold” and a consensus target price of $4.48.

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.