147,045 Shares in Xerox Holdings Co. $XRX Purchased by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC acquired 147,045 shares of Xerox Holdings Co. (NYSE:XRX), valued at approximately $775,000, marking a new position in the company.
• Xerox reported a loss of $0.64 earnings per share for the last quarter, significantly missing the consensus estimate, and its revenue saw a 0.1% year-over-year decline.
• The company announced a quarterly dividend of $0.025 per share, resulting in an annualized yield of 2.4%, despite a negative payout ratio.

Counterpoint Mutual Funds LLC purchased a new position in Xerox Holdings Co. (NYSE:XRX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 147,045 shares of the information technology services provider's stock, valued at approximately $775,000. Counterpoint Mutual Funds LLC owned approximately 0.12% of Xerox as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in XRX. Federated Hermes Inc. raised its position in Xerox by 2,035.4% in the first quarter. Federated Hermes Inc. now owns 3,682,002 shares of the information technology services provider's stock worth $17,784,000 after purchasing an additional 3,509,574 shares in the last quarter. Paradigm Capital Management Inc. NY grew its stake in Xerox by 2,392.4% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,246,200 shares of the information technology services provider's stock worth $6,019,000 after buying an additional 1,196,200 shares during the last quarter. Nuveen LLC bought a new stake in Xerox during the first quarter worth about $4,765,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Xerox by 348.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 953,827 shares of the information technology services provider's stock worth $4,607,000 after buying an additional 741,297 shares during the last quarter. Finally, Caxton Associates LLP bought a new stake in Xerox during the first quarter worth about $2,363,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Xerox Price Performance

Shares of XRX stock opened at $4.13 on Tuesday. The firm's 50 day moving average price is $4.31 and its two-hundred day moving average price is $4.78. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The stock has a market cap of $519.67 million, a PE ratio of -0.38 and a beta of 1.77. Xerox Holdings Co. has a 52-week low of $3.44 and a 52-week high of $11.29.

Xerox (NYSE:XRX - Get Free Report) last posted its earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.71). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%.The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business earned $0.29 earnings per share. Xerox has set its FY 2025 guidance at EPS. As a group, analysts forecast that Xerox Holdings Co. will post 1.07 EPS for the current year.

Xerox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.025 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.10 annualized dividend and a yield of 2.4%. Xerox's dividend payout ratio (DPR) is -0.87%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Citigroup assumed coverage on shares of Xerox in a research note on Monday, August 18th. They set a "neutral" rating and a $4.50 price objective on the stock. Zacks Research raised shares of Xerox from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $6.83.

Insiders Place Their Bets

In other news, Director A. Scott Letier bought 29,600 shares of the business's stock in a transaction on Friday, August 1st. The shares were bought at an average cost of $3.95 per share, for a total transaction of $116,920.00. Following the completion of the acquisition, the director owned 58,984 shares in the company, valued at approximately $232,986.80. This trade represents a 100.74% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.50% of the company's stock.

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.

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