Voloridge Investment Management LLC Makes New $1.38 Million Investment in Xerox Holdings Co. (NYSE:XRX)

Voloridge Investment Management LLC purchased a new position in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 163,142 shares of the information technology services provider's stock, valued at approximately $1,375,000. Voloridge Investment Management LLC owned about 0.13% of Xerox at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Picton Mahoney Asset Management boosted its position in shares of Xerox by 330.5% in the fourth quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 2,885 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new stake in shares of Xerox in the fourth quarter worth approximately $51,000. KBC Group NV boosted its position in shares of Xerox by 84.5% in the fourth quarter. KBC Group NV now owns 9,223 shares of the information technology services provider's stock worth $78,000 after acquiring an additional 4,224 shares during the last quarter. Marathon Trading Investment Management LLC acquired a new stake in shares of Xerox in the fourth quarter worth approximately $84,000. Finally, Sterling Capital Management LLC boosted its position in shares of Xerox by 48.9% in the fourth quarter. Sterling Capital Management LLC now owns 10,106 shares of the information technology services provider's stock worth $85,000 after acquiring an additional 3,319 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO John G. Bruno purchased 25,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was acquired at an average price of $4.38 per share, with a total value of $109,500.00. Following the completion of the transaction, the chief operating officer now owns 259,775 shares of the company's stock, valued at $1,137,814.50. This represents a 10.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven John Bandrowczak purchased 22,300 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 382,442 shares of the company's stock, valued at approximately $1,713,340.16. This represents a 6.19% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 82,300 shares of company stock worth $364,254 over the last 90 days. Company insiders own 1.50% of the company's stock.

Xerox Trading Down 1.0%

NYSE XRX traded down $0.05 during mid-day trading on Friday, hitting $4.85. The company's stock had a trading volume of 3,788,253 shares, compared to its average volume of 3,002,871. Xerox Holdings Co. has a 52-week low of $3.45 and a 52-week high of $14.81. The stock's fifty day simple moving average is $4.67 and its two-hundred day simple moving average is $6.94. 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 firm has a market capitalization of $610.08 million, a P/E ratio of -0.45 and a beta of 1.75.

Xerox (NYSE:XRX - Get Free Report) last posted its quarterly earnings data 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 negative net margin of 21.24% and a positive return on equity of 7.57%. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 EPS. Research analysts expect that Xerox Holdings Co. will post 1.07 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Xerox from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $9.50.

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.