Public Sector Pension Investment Board Buys 78,728 Shares of Xerox Holdings Co. $XRX

Key Points

• The Public Sector Pension Investment Board increased its stake in Xerox Holdings Co. by 27.3% during the first quarter, now owning approximately 0.29% of the company, worth around $1.77 million.
• COO John G. Bruno and Director A. Scott Letier both made significant insider purchases, increasing their respective holdings by 10.65% and 100.74% recently.
• Xerox's stock has seen a decline of 3.3%, with a current share price around $3.82, and the company reported a quarterly loss, missing earnings expectations significantly.

Public Sector Pension Investment Board grew its stake in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 27.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 366,953 shares of the information technology services provider's stock after acquiring an additional 78,728 shares during the period. Public Sector Pension Investment Board owned about 0.29% of Xerox worth $1,772,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Yousif Capital Management LLC lifted its holdings in shares of 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 valued at $275,000 after purchasing an additional 3,091 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Xerox by 103.8% in the fourth quarter. Deutsche Bank AG now owns 138,852 shares of the information technology services provider's stock valued at $1,171,000 after purchasing an additional 70,724 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Xerox by 569.7% in the first quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 5,993 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Xerox in the first quarter valued at $72,000. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Xerox by 6.4% in the fourth quarter. Nuveen Asset Management LLC now owns 997,349 shares of the information technology services provider's stock valued at $8,408,000 after purchasing an additional 60,283 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Xerox Stock Performance

Shares of NYSE:XRX traded down $0.11 during midday trading on Tuesday, hitting $3.82. The company's stock had a trading volume of 4,293,429 shares, compared to its average volume of 4,083,575. The stock has a market capitalization of $480.67 million, a price-to-earnings ratio of -0.36 and a beta of 1.79. The stock's 50 day simple moving average is $4.90 and its 200 day simple moving average is $5.26. Xerox Holdings Co. has a fifty-two week low of $3.44 and a fifty-two week high of $11.42. 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 issued its quarterly earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share (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 firm's revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. Xerox has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Announces Dividend

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

Insider Activity

In other Xerox news, Director A. Scott Letier purchased 29,600 shares of the stock in a transaction dated Friday, August 1st. The shares were bought at an average cost of $3.95 per share, with a total value of $116,920.00. Following the completion of the transaction, the director owned 58,984 shares in the company, valued at $232,986.80. This trade represents a 100.74% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup started coverage on Xerox in a report on Monday, August 18th. They issued a "neutral" rating and a $4.50 target price for the company. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Xerox currently has a consensus rating of "Sell" and a consensus price target of $6.83.

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.