The latest buzz in the financial world surrounds Xerox Holdings (NasdaqGS:XRX) as its one-year price target has been revised upwards to $17.34 per share. This represents a substantial increase of 21.43% from the previous estimate of $14.28 set on January 16, 2024.
Analysts have pooled their insights to present an average price target, ranging from a low of $15.15 to a high of $19.95 per share. Interestingly, the average price target is 6.17% lower than Xerox’s latest reported closing price of $18.48 per share.
The State of Fund Sentiment
With 696 funds or institutions currently reporting positions in Xerox Holdings, we observe a surge of 40 new owners, marking a substantial 6.10% increase in the last quarter alone. The average portfolio weight dedicated to XRX across all funds now stands at 0.10%, showing a significant uptick of 22.64%. Furthermore, institutional investors have collectively increased their shares by 7.12% over the past three months, amounting to a total of 120,708K shares.
The put/call ratio for XRX sits at 2.37, hinting at a bearish outlook among investors and analysts alike.
Insights into Shareholder Actions
Key players in the investment landscape are also making notable moves in Xerox Holdings. For instance, iShares Core S&P Small-Cap ETF (IJR) now holds a significant 7,640K shares, translating to a 6.20% ownership stake in the company.
Pacer Advisors has also ramped up its involvement, now owning 6,502K shares representing 5.28% of the company. Notably, this reflects a substantial 100.00% increase from its prior holdings.
Lsv Asset Management holds 6,247K shares, accounting for 5.07% ownership. The firm showed a modest 0.10% increase in shares from its previous filing and boosted its portfolio allocation in XRX by 9.71% in the last quarter.
Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) owns 3,382K shares, indicating a 2.75% ownership share. With a 9.46% surge in portfolio allocation over the last quarter, Vanguard is showing confidence in Xerox Holdings.
Vanguard Small-Cap Index Fund Investor Shares (NAESX) possess 2,794K shares, representing 2.27% ownership. Despite a slight 0.17% decrease in shares from their last filing, they increased their portfolio allocation in XRX by 10.29% over the quarter.
The Essence of Xerox Holdings
Xerox Holdings Corporation prides itself on enhancing the daily work experience. The company, renowned for its innovative workplace technology, crafts and consolidates software and hardware solutions for businesses of all sizes. By aiding customers in managing information seamlessly across digital and physical realms, Xerox fosters a secure and sustainable operational environment. Noteworthy for past inventions like the copier, Ethernet, and laser printer, Xerox continues to shape contemporary work dynamics.
Fintel emerges as a leading investment research platform catering to individual investors, traders, financial advisors, and small hedge funds. Offering a wealth of data spanning fundamentals, analyst reports, ownership insights, and sentiment analysis, Fintel equips users with a comprehensive suite of tools for informed decision-making. Additionally, their exclusive stock picks leverage advanced, backtested quantitative models to drive enhanced profits.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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