Quantbot Technologies LP Sells 235,245 Shares of Xerox Holdings Co. $XRX

Key Points

• Quantbot Technologies LP significantly reduced its stake in Xerox Holdings Co. by 77.5%, selling 235,245 shares, leaving it with only 68,108 shares valued at $329,000.
• Xerox reported a loss of ($0.64) earnings per share for the most recent quarter, missing analysts' expectations, and its quarterly revenue declined by 0.1% year-over-year.
• The company has declared a quarterly dividend of $0.025, with a yield of 2.6%, to be paid on October 31st to shareholders of record by September 30th.

Quantbot Technologies LP reduced its position in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 77.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 68,108 shares of the information technology services provider's stock after selling 235,245 shares during the quarter. Quantbot Technologies LP owned about 0.05% of Xerox worth $329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in 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 buying an additional 2,320 shares during the period. PNC Financial Services Group Inc. raised its holdings in Xerox by 110.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider's stock valued at $27,000 after buying an additional 2,911 shares during the period. SBI Securities Co. Ltd. raised its holdings in 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 buying an additional 3,066 shares during the period. Yousif Capital Management LLC raised its holdings in 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 buying an additional 3,091 shares during the period. Finally, Allworth Financial LP raised its holdings in Xerox by 137.7% during the 1st quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider's stock valued at $29,000 after buying an additional 3,484 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Xerox Stock Performance

XRX stock opened at $3.82 on Wednesday. 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 business's fifty day simple moving average is $4.90 and its two-hundred day simple moving average is $5.26. 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 $480.67 million, a price-to-earnings ratio of -0.36 and a beta of 1.79.

Xerox (NYSE:XRX - Get Free Report) last released its earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share 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%.During the same period in the previous year, the business posted $0.29 earnings per share. The firm's revenue for the quarter was down .1% compared to the same quarter last year. Xerox has set its FY 2025 guidance at EPS. Analysts predict that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Announces Dividend

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

Insiders Place Their Bets

In other Xerox news, Director A. Scott Letier bought 29,600 shares of Xerox stock in a transaction on Friday, August 1st. The shares were acquired at an average price of $3.95 per share, for a total transaction of $116,920.00. Following the completion of the purchase, the director directly owned 58,984 shares in the company, valued at approximately $232,986.80. This trade represents a 100.74% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Citigroup started coverage on Xerox in a report on Monday, August 18th. They set a "neutral" rating and a $4.50 price target on the stock. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Sell" and a consensus price target of $6.83.

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.

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