Goldman Sachs Group Inc. Acquires 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. increased its position in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 37.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,575,229 shares of the information technology services provider's stock after buying an additional 431,349 shares during the period. Goldman Sachs Group Inc. owned about 1.25% of Xerox worth $7,608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of XRX. PNC Financial Services Group Inc. increased its position in shares of Xerox by 110.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 2,911 shares during the last quarter. Allworth Financial LP increased its position in shares of Xerox by 137.7% in the 1st quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 3,484 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Xerox by 331.8% in the 1st quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider's stock worth $31,000 after purchasing an additional 5,000 shares during the last quarter. GAMMA Investing LLC increased its position 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 purchasing 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 about $49,000. Institutional investors own 85.36% of the company's stock.

Xerox Trading Up 1.1%

Shares of XRX stock traded up $0.05 during trading hours on Friday, reaching $4.04. 2,607,521 shares of the stock traded hands, compared to its average volume of 4,087,696. Xerox Holdings Co. has a 1-year low of $3.44 and a 1-year high of $11.29. The business has a fifty day moving average price of $4.35 and a 200 day moving average price of $4.83. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The firm has a market capitalization of $507.72 million, a PE ratio of -0.38 and a beta of 1.77.

Xerox (NYSE:XRX - Get Free Report) last released its quarterly earnings data 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 negative net margin of 21.24% and a positive return on equity of 7.57%. The business's quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $0.29 earnings per share. Xerox has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Xerox Holdings Co. will post 1.07 EPS for the current year.

Xerox Dividend Announcement

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 paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Xerox's dividend payout ratio is currently -0.87%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, Director A. Scott Letier acquired 29,600 shares of the company's stock in a transaction on Friday, August 1st. The shares were purchased at an average price of $3.95 per share, for a total transaction of $116,920.00. Following the purchase, the director owned 58,984 shares in the company, valued at $232,986.80. This represents a 100.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.