Jacobs Levy Equity Management Inc. Increases Stock Holdings in Xerox Holdings Co. $XRX

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Xerox Holdings Co. by 389.8%, acquiring a total of 484,950 shares valued at approximately $2.34 million.
• Xerox reported a significant earnings miss in its latest quarter, with earnings per share at ($0.64), falling short of the expected $0.07.
• The company announced a quarterly dividend of $0.025 per share, yielding 2.8%, scheduled for payment on October 31st to shareholders recorded by September 30th.

Jacobs Levy Equity Management Inc. raised its position in Xerox Holdings Co. (NYSE:XRX - Free Report) by 389.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 484,950 shares of the information technology services provider's stock after acquiring an additional 385,938 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.39% of Xerox worth $2,342,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Xerox by 71.7% in the first quarter. AQR Capital Management LLC now owns 345,631 shares of the information technology services provider's stock valued at $1,661,000 after purchasing an additional 144,280 shares in the last quarter. Graham Capital Management L.P. lifted its stake in Xerox by 121.1% in the first quarter. Graham Capital Management L.P. now owns 197,260 shares of the information technology services provider's stock valued at $953,000 after buying an additional 108,046 shares during the last quarter. Paradigm Capital Management Inc. NY lifted its stake in Xerox by 2,392.4% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,246,200 shares of the information technology services provider's stock valued at $6,019,000 after buying an additional 1,196,200 shares during the last quarter. Quarry LP purchased a new stake in Xerox in the first quarter valued at approximately $242,000. Finally, Nomura Holdings Inc. lifted its stake in Xerox by 244.2% in the first quarter. Nomura Holdings Inc. now owns 205,102 shares of the information technology services provider's stock valued at $991,000 after buying an additional 145,516 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on XRX shares. Citigroup started coverage on Xerox in a research note on Monday, August 18th. They set a "neutral" rating and a $4.50 price target for the company. Zacks Research upgraded Xerox from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $6.83.

Xerox Price Performance

Shares of XRX traded up $0.12 during trading hours on Tuesday, reaching $3.75. 6,792,305 shares of the company traded hands, compared to its average volume of 4,079,990. 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 stock has a market capitalization of $471.86 million, a PE ratio of -0.35 and a beta of 1.77. Xerox Holdings Co. has a fifty-two week low of $3.44 and a fifty-two week high of $11.29. The stock has a fifty day simple moving average of $4.41 and a 200 day simple moving average of $4.86.

Xerox (NYSE:XRX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The information technology services provider reported ($0.64) EPS for the quarter, missing analysts' consensus estimates 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 business's revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 earnings per share. Xerox has set its FY 2025 guidance at EPS. As a group, research analysts predict that Xerox Holdings Co. will post 1.07 EPS for the current fiscal year.

Xerox Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 30th. Xerox's dividend payout ratio (DPR) is -0.87%.

Insider Activity at Xerox

In other news, Director A. Scott Letier acquired 29,600 shares of the business's stock in a transaction dated 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 acquisition, the director directly owned 58,984 shares in the company, valued at $232,986.80. This trade represents a 100.74% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is currently owned by company insiders.

Xerox 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.