Paradigm Capital Management Inc. NY Acquires 1,196,200 Shares of Xerox Holdings Co. $XRX

Key Points

• Paradigm Capital Management Inc. significantly increased its stake in Xerox Holdings by 2,392.4%, adding over 1.1 million shares to reach a total of 1,246,200 shares, valued at approximately $6 million.
• Other institutional investors, including Federated Hermes Inc. and Point72 Asset Management, also made substantial increases in their holdings of Xerox in the first quarter.
• Xerox recently announced a quarterly dividend of $0.025, with an annualized yield of 2.5%, and is under a consensus "Sell" rating from analysts, with a target price of $4.50.

Paradigm Capital Management Inc. NY lifted its position in Xerox Holdings Co. (NYSE:XRX - Free Report) by 2,392.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,246,200 shares of the information technology services provider's stock after buying an additional 1,196,200 shares during the period. Paradigm Capital Management Inc. NY owned about 0.99% of Xerox worth $6,019,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in XRX. Federated Hermes Inc. lifted its stake in shares of Xerox by 2,035.4% in the first quarter. Federated Hermes Inc. now owns 3,682,002 shares of the information technology services provider's stock worth $17,784,000 after buying an additional 3,509,574 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Xerox by 2,846.8% during the fourth quarter. Point72 Asset Management L.P. now owns 1,128,973 shares of the information technology services provider's stock valued at $9,517,000 after purchasing an additional 1,090,661 shares during the period. Nuveen LLC bought a new position in Xerox during the first quarter valued at approximately $4,765,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Xerox by 348.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 953,827 shares of the information technology services provider's stock valued at $4,607,000 after purchasing an additional 741,297 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Xerox during the fourth quarter valued at approximately $4,101,000. Institutional investors own 85.36% of the company's stock.

Insiders Place Their Bets

In related news, Director A. Scott Letier bought 29,600 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average cost of $3.95 per share, with a total value of $116,920.00. Following the completion of the purchase, the director owned 58,984 shares of the company's stock, valued at approximately $232,986.80. The trade was a 100.74% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.30% of the company's stock.

Xerox Price Performance

Shares of XRX stock traded up $0.01 on Friday, hitting $3.89. 1,921,838 shares of the stock traded hands, compared to its average volume of 4,050,938. The firm has a market cap of $488.85 million, a price-to-earnings ratio of -0.36 and a beta of 1.77. Xerox Holdings Co. has a 52 week low of $3.44 and a 52 week high of $11.29. The firm has a 50 day simple moving average of $4.69 and a two-hundred day simple moving average of $5.08. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84.

Xerox (NYSE:XRX - Get Free Report) last announced its quarterly earnings data 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 negative net margin of 21.24% and a positive return on equity of 7.57%. The business's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 EPS. Xerox has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Xerox Holdings Co. will post 1.07 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Xerox's dividend payout ratio (DPR) is presently -0.87%.

Analyst Ratings Changes

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

Xerox Company 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.