Mackenzie Financial Corp Grows Position in Xerox Holdings Co. (NYSE:XRX)

Key Points

• Mackenzie Financial Corp significantly increased its stake in Xerox Holdings, raising it by 539% by purchasing an additional 91,570 shares during the first quarter, bringing their total to 108,558 shares valued at approximately $524,000.
• Insider purchases included CEO Steven John Bandrowczak, who acquired 22,300 shares, and CFO Mirlanda Gecaj, who increased their ownership by 168% through the purchase of 10,000 shares.
• Xerox recently reported a (0.64) EPS for the last quarter, missing expectations, while also announcing a quarterly dividend of $0.025, set to be paid on October 31st.

Mackenzie Financial Corp grew its stake in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 539.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,558 shares of the information technology services provider's stock after purchasing an additional 91,570 shares during the quarter. Mackenzie Financial Corp owned approximately 0.09% of Xerox worth $524,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in XRX. Franklin Resources Inc. lifted its stake in Xerox by 1.9% in the fourth quarter. Franklin Resources Inc. now owns 95,012 shares of the information technology services provider's stock worth $801,000 after acquiring an additional 1,733 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Xerox by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,209 shares of the information technology services provider's stock worth $558,000 after acquiring an additional 2,320 shares during the period. Russell Investments Group Ltd. lifted its stake in Xerox by 3.0% in the fourth quarter. Russell Investments Group Ltd. now owns 87,466 shares of the information technology services provider's stock worth $737,000 after acquiring an additional 2,534 shares during the period. SBI Securities Co. Ltd. lifted its stake in Xerox by 21.6% in the first quarter. SBI Securities Co. Ltd. now owns 17,281 shares of the information technology services provider's stock worth $83,000 after acquiring an additional 3,066 shares during the period. Finally, Yousif Capital Management LLC lifted its stake in Xerox by 5.7% in the first quarter. Yousif Capital Management LLC now owns 56,907 shares of the information technology services provider's stock worth $275,000 after acquiring an additional 3,091 shares during the period. Hedge funds and other institutional investors own 85.36% of the company's stock.

Xerox Trading Up 3.9%

XRX stock traded up $0.17 on Tuesday, reaching $4.37. The company's stock had a trading volume of 780,965 shares, compared to its average volume of 4,048,969. The business has a fifty day simple moving average of $5.19 and a two-hundred day simple moving average of $5.60. Xerox Holdings Co. has a 12-month low of $3.44 and a 12-month high of $11.42. The firm has a market cap of $549.07 million, a PE ratio of -0.41 and a beta of 1.79. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11.

Xerox (NYSE:XRX - Get Free Report) last released its quarterly 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 negative net margin of 21.24% and a positive return on equity of 7.57%. The firm's revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 EPS. As a group, research analysts forecast that Xerox Holdings Co. will post 1.07 EPS for the current year.

Xerox Announces Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.10 annualized dividend and a yield of 2.3%. Xerox's dividend payout ratio (DPR) is currently -0.87%.

Insider Transactions at Xerox

In other news, CEO Steven John Bandrowczak acquired 22,300 shares of the stock in a transaction on Friday, May 23rd. The stock was acquired at an average price of $4.48 per share, with a total value of $99,904.00. Following the completion of the transaction, the chief executive officer owned 382,442 shares of the company's stock, valued at $1,713,340.16. This represents a 6.19% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO John G. Bruno acquired 25,000 shares of the stock in a transaction on Friday, May 23rd. The shares were purchased at an average cost of $4.38 per share, with a total value of $109,500.00. Following the transaction, the chief operating officer directly owned 259,775 shares of the company's stock, valued at approximately $1,137,814.50. This trade represents a 10.65% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 117,079 shares of company stock worth $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.