Strs Ohio Acquires New Holdings in Xerox Holdings Co. $XRX

Key Points

• Strs Ohio acquired a stake of 99,200 shares in Xerox Holdings Co. in Q1, valued at approximately $479,000, representing about 0.08% of the company.
• Other hedge funds increased their stakes significantly, with notable purchases including Paradigm Capital Management raising its stake by over 2,392% during the same period.
• Xerox's stock currently trades at $4.10, with a recent quarterly EPS of ($0.64), missing analysts' estimates and reflecting ongoing challenges in revenue.

Strs Ohio bought a new stake in Xerox Holdings Co. (NYSE:XRX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 99,200 shares of the information technology services provider's stock, valued at approximately $479,000. Strs Ohio owned 0.08% of Xerox at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Xerox by 9.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,018 shares of the information technology services provider's stock valued at $2,898,000 after acquiring an additional 50,467 shares during the period. Empowered Funds LLC raised its stake in shares of Xerox by 2.1% in the 1st quarter. Empowered Funds LLC now owns 619,381 shares of the information technology services provider's stock valued at $2,992,000 after acquiring an additional 12,633 shares during the period. Caxton Associates LLP purchased a new position in shares of Xerox in the 1st quarter valued at $2,363,000. Goldman Sachs Group Inc. raised its stake in shares of Xerox by 37.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,575,229 shares of the information technology services provider's stock valued at $7,608,000 after acquiring an additional 431,349 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Xerox in the 1st quarter valued at $360,000. Hedge funds and other institutional investors own 85.36% of the company's stock.

Insider Activity at Xerox

In other Xerox news, Director A. Scott Letier purchased 29,600 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was acquired at an average cost of $3.95 per share, with a total value of $116,920.00. Following the acquisition, the director owned 58,984 shares of the company's stock, valued at approximately $232,986.80. This represents a 100.74% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company's stock.

Xerox Stock Up 0.7%

XRX stock traded up $0.03 during mid-day trading on Monday, hitting $4.13. 4,623,444 shares of the company were exchanged, compared to its average volume of 4,249,213. The company has a market capitalization of $519.67 million, a PE ratio of -0.38 and a beta of 1.77. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. Xerox Holdings Co. has a twelve month low of $3.44 and a twelve month high of $11.29. The firm has a fifty day simple moving average of $4.31 and a 200 day simple moving average of $4.78.

Xerox (NYSE:XRX - Get Free Report) last posted 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 negative net margin of 21.24% and a positive return on equity of 7.57%. During the same quarter last year, the business earned $0.29 earnings per share. The business's revenue was down .1% on a year-over-year basis. Xerox has set its FY 2025 guidance at EPS. On average, research analysts forecast that Xerox Holdings Co. will post 1.07 earnings per share for the current fiscal year.

Xerox Dividend Announcement

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 issued a $0.025 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.10 annualized dividend and a dividend yield of 2.4%. Xerox's payout ratio is -0.87%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Xerox in a research note on Monday, August 18th. They set a "neutral" rating and a $4.50 price target on the stock. Zacks Research raised shares of Xerox from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" 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.