Xerox Holdings Co. (NYSE:XRX) Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. reduced its stake in Xerox Holdings by 23.2%, selling 126,917 shares, leaving it with 419,619 shares valued at approximately $2,027,000.
• Xerox reported a loss of ($0.06) earnings per share for the last quarter, missing expectations by $0.03, while revenue declined by 3.0% year-over-year.
• In recent insider trading activity, CFO Mirlanda Gecaj and Director A. Scott Letier significantly increased their positions in Xerox by purchasing 10,000 and 25,000 shares respectively.

Victory Capital Management Inc. decreased its position in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 23.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 419,619 shares of the information technology services provider's stock after selling 126,917 shares during the period. Victory Capital Management Inc. owned about 0.33% of Xerox worth $2,027,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP raised its position in Xerox by 137.7% in the 1st quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 3,484 shares in the last quarter. Larson Financial Group LLC raised its position in Xerox by 331.8% in the 1st quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 5,000 shares in the last quarter. GAMMA Investing LLC raised its position in Xerox by 569.7% in the 1st 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. TD Waterhouse Canada Inc. acquired a new stake in Xerox in the 4th quarter valued at about $51,000. Finally, Summit Trail Advisors LLC purchased a new position in shares of Xerox in the 1st quarter valued at about $57,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Xerox Stock Down 7.6%

Shares of XRX traded down $0.45 during mid-day trading on Tuesday, reaching $5.50. The company's stock had a trading volume of 3,082,198 shares, compared to its average volume of 3,976,580. Xerox Holdings Co. has a 12-month low of $3.44 and a 12-month high of $11.45. The stock has a market cap of $691.85 million, a PE ratio of -0.51 and a beta of 1.82. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84. The company's 50 day moving average is $5.30 and its 200 day moving average is $5.94.

Xerox (NYSE:XRX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%. The company's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 EPS. Equities analysts anticipate that Xerox Holdings Co. will post 1.07 EPS for the current fiscal year.

Xerox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.025 per share. The ex-dividend date is Monday, June 30th. This represents a $0.10 dividend on an annualized basis and a yield of 1.82%. Xerox's payout ratio is -0.95%.

Insider Buying and Selling

In related news, CFO Mirlanda Gecaj acquired 10,000 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was bought at an average cost of $4.41 per share, with a total value of $44,100.00. Following the transaction, the chief financial officer owned 15,956 shares of the company's stock, valued at $70,365.96. The trade was a 167.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Steven John Bandrowczak acquired 22,300 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were bought at an average cost of $4.48 per share, with a total value of $99,904.00. Following the completion of the transaction, the chief executive officer directly owned 382,442 shares in the company, valued at $1,713,340.16. This trade represents a 6.19% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 82,300 shares of company stock valued at $364,254 over the last 90 days. Insiders own 1.50% of the company's stock.

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.