Xerox Holdings Co. (NYSE:XRX) Shares Acquired by Kovack Advisors Inc.

Key Points

• Kovack Advisors Inc. substantially increased its stake in Xerox Holdings Co. by 101.9% during the first quarter, now holding approximately 0.10% of the company with an investment valued at $601,000.
• Insider transactions were notable, with CEO Steven John Bandrowczak purchasing an additional 22,300 shares and Director A. Scott Letier acquiring 25,000 shares, reflecting significant confidence in the company's future.
• Xerox is set to pay a quarterly dividend of $0.025 on July 31st, with a total annualized dividend yield of 1.64%, even as the company faces challenges with a recent quarterly earnings report showing a negative EPS.

Kovack Advisors Inc. grew its stake in Xerox Holdings Co. (NYSE:XRX - Free Report) by 101.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 124,400 shares of the information technology services provider's stock after purchasing an additional 62,800 shares during the quarter. Kovack Advisors Inc. owned approximately 0.10% of Xerox worth $601,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP grew its position in shares of 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 last quarter. Larson Financial Group LLC grew 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 worth $31,000 after purchasing an additional 5,000 shares during the last quarter. GAMMA Investing LLC grew 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 worth $34,000 after purchasing an additional 5,993 shares during the last quarter. TD Waterhouse Canada Inc. bought a new position in Xerox in the 4th quarter worth about $51,000. Finally, Summit Trail Advisors LLC bought a new position in Xerox in the 1st quarter worth about $57,000. Institutional investors own 85.36% of the company's stock.

Insider Activity at Xerox

In related news, CEO Steven John Bandrowczak acquired 22,300 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was acquired at an average cost of $4.48 per share, for a total transaction of $99,904.00. Following the completion of the acquisition, the chief executive officer directly owned 382,442 shares of the company's stock, valued at approximately $1,713,340.16. The trade was a 6.19% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director A. Scott Letier acquired 25,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $4.43 per share, with a total value of $110,750.00. Following the completion of the acquisition, the director directly owned 29,384 shares of the company's stock, valued at approximately $130,171.12. This represents a 570.26% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 82,300 shares of company stock valued at $364,254. Insiders own 1.50% of the company's stock.

Xerox Price Performance

NYSE XRX opened at $6.08 on Friday. Xerox Holdings Co. has a 52 week low of $3.44 and a 52 week high of $11.45. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The stock has a market cap of $764.80 million, a price-to-earnings ratio of -0.57 and a beta of 1.82. The company has a 50-day moving average price of $5.28 and a two-hundred day moving average price of $6.00.

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

Xerox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Monday, June 30th. Xerox's dividend payout ratio (DPR) is presently -0.95%.

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.

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