Goldman Sachs Group Inc. Buys 431,349 Shares of Xerox Holdings Co. $XRX

Key Points

• Goldman Sachs increased its stake in Xerox Holdings Co. by 37.7% in Q1, acquiring an additional 431,349 shares, bringing its total to 1,575,229 shares valued at approximately $7.6 million.
• Xerox reported a significant earnings miss in its latest quarter, with an EPS of ($0.64), compared to a consensus estimate of $0.07, highlighting ongoing financial struggles.
• The company has set a quarterly dividend of $0.025 per share to be paid on October 31, representing a 2.7% yield, with an ex-dividend date of September 30.

Goldman Sachs Group Inc. raised its stake in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 37.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,575,229 shares of the information technology services provider's stock after purchasing an additional 431,349 shares during the quarter. Goldman Sachs Group Inc. owned 1.25% of Xerox worth $7,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in Xerox by 110.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider's stock valued at $27,000 after purchasing an additional 2,911 shares during the last quarter. Allworth Financial LP lifted its position in Xerox by 137.7% during the first quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 3,484 shares during the last quarter. Larson Financial Group LLC lifted its position in Xerox by 331.8% during the first quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 5,000 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Xerox by 569.7% in the 1st quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 5,993 shares during the last quarter. Finally, FORA Capital LLC bought a new stake in shares of Xerox in the 1st quarter worth approximately $49,000. 85.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Xerox from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. Citigroup assumed coverage on shares of Xerox in a report on Monday, August 18th. They issued a "neutral" rating and a $4.50 price objective for the company. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $6.83.

Xerox Stock Down 0.5%

Shares of NYSE XRX opened at $3.68 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. Xerox Holdings Co. has a 52 week low of $3.44 and a 52 week high of $11.29. The firm's fifty day moving average is $4.48 and its 200 day moving average is $4.90. The company has a market cap of $463.05 million, a price-to-earnings ratio of -0.34 and a beta of 1.77.

Xerox (NYSE:XRX - Get Free Report) last issued its earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) EPS 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%.During the same quarter in the previous year, the company earned $0.29 earnings per share. Xerox's revenue was down .1% compared to the same quarter last year. Xerox has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 30th. Xerox's payout ratio is presently -0.87%.

Insider Transactions at Xerox

In related news, Director A. Scott Letier bought 29,600 shares of the company's stock in a transaction dated Friday, August 1st. The stock was purchased at an average cost of $3.95 per share, with a total value of $116,920.00. Following the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company's stock.

About Xerox

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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