LSV Asset Management Sells 1,036,440 Shares of Xerox Holdings Co. (NYSE:XRX)

Key Points

• LSV Asset Management reduced its stake in Xerox Holdings by 22.8%, now holding approximately 2.78% of the company, valued at around $16.91 million.
• Insiders also engaged in stock purchases, with Director A. Scott Letier acquiring 29,600 shares and CFO Mirlanda Gecaj buying 10,000 shares, significantly increasing their ownership in the company.
• Xerox's stock price recently decreased by 1.5% to $4.07, and the company reported (-$0.64) EPS for the last quarter, missing estimates.

LSV Asset Management trimmed its position in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 22.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,501,659 shares of the information technology services provider's stock after selling 1,036,440 shares during the period. LSV Asset Management owned about 2.78% of Xerox worth $16,913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. boosted its holdings in Xerox by 1.9% during the fourth quarter. Franklin Resources Inc. now owns 95,012 shares of the information technology services provider's stock valued at $801,000 after purchasing an additional 1,733 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Xerox by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,209 shares of the information technology services provider's stock valued at $558,000 after acquiring an additional 2,320 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Xerox by 3.0% during the 4th quarter. Russell Investments Group Ltd. now owns 87,466 shares of the information technology services provider's stock valued at $737,000 after acquiring an additional 2,534 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of Xerox by 21.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 17,281 shares of the information technology services provider's stock valued at $83,000 after acquiring an additional 3,066 shares during the last quarter. Finally, Yousif Capital Management LLC raised its position in shares of Xerox by 5.7% during the 1st quarter. Yousif Capital Management LLC now owns 56,907 shares of the information technology services provider's stock valued at $275,000 after acquiring an additional 3,091 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Xerox Trading Down 1.1%

Shares of XRX stock traded down $0.05 on Friday, hitting $4.18. The stock had a trading volume of 1,227,095 shares, compared to its average volume of 4,065,071. Xerox Holdings Co. has a twelve month low of $3.44 and a twelve month high of $11.42. The firm has a market cap of $525.17 million, a P/E ratio of -0.39 and a beta of 1.79. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The company has a fifty day moving average price of $5.22 and a two-hundred day moving average price of $5.73.

Xerox (NYSE:XRX - Get Free Report) last issued its quarterly 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 prior year, the firm earned $0.29 EPS. The business's revenue was down .1% compared to the same quarter last year. As a group, analysts forecast that Xerox Holdings Co. will post 1.07 earnings per share for the current fiscal year.

Xerox Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.10 annualized dividend and a yield of 2.4%. Xerox's payout ratio is -0.87%.

Insider Buying and Selling at Xerox

In other Xerox news, CFO Mirlanda Gecaj purchased 10,000 shares of the business's stock in a transaction on Friday, May 23rd. The shares were purchased at an average cost of $4.41 per share, with a total value of $44,100.00. Following the transaction, the chief financial officer directly owned 15,956 shares of the company's stock, valued at $70,365.96. This represents a 167.90% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Steven John Bandrowczak bought 22,300 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was purchased at an average cost of $4.48 per share, for a total transaction of $99,904.00. Following the completion of the acquisition, the chief executive officer owned 382,442 shares in the company, valued at $1,713,340.16. This trade represents a 6.19% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 117,079 shares of company stock valued at $502,045. 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.