Xerox Holdings Co. $XRX Shares Bought by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. increased its stake in Xerox Holdings by 121.1% during the first quarter, owning 197,260 shares worth approximately $953,000.
• Despite recent institutional investments, Xerox has a consensus rating of "Sell" with a target price of $6.83, while Citigroup has set a "neutral" rating at $4.50.
• Xerox recently reported a loss of $0.64 per share for the last quarter, significantly below analysts' expectations, with a quarterly revenue decline of 0.1% year-over-year.

Graham Capital Management L.P. raised its position in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 121.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 197,260 shares of the information technology services provider's stock after buying an additional 108,046 shares during the quarter. Graham Capital Management L.P. owned about 0.16% of Xerox worth $953,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of XRX. Raymond James Financial Inc. acquired a new stake in Xerox during the fourth quarter valued at approximately $208,000. Price T Rowe Associates Inc. MD raised its stake in Xerox by 9.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 84,551 shares of the information technology services provider's stock valued at $713,000 after buying an additional 7,522 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Xerox by 13.9% during the fourth quarter. Voya Investment Management LLC now owns 55,293 shares of the information technology services provider's stock valued at $466,000 after purchasing an additional 6,749 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Xerox by 7.7% during the fourth quarter. Northern Trust Corp now owns 1,405,471 shares of the information technology services provider's stock valued at $11,848,000 after purchasing an additional 100,900 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Xerox during the fourth quarter valued at approximately $4,101,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on XRX shares. Zacks Research raised Xerox from a "strong sell" rating to a "hold" rating in a report on Wednesday. Citigroup started coverage on Xerox in a report on Monday, August 18th. They set a "neutral" rating and a $4.50 target price for the company. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $6.83.

Xerox Stock Performance

XRX stock traded up $0.04 on Friday, reaching $3.92. The company's stock had a trading volume of 3,497,735 shares, compared to its average volume of 4,060,556. Xerox Holdings Co. has a 52 week low of $3.44 and a 52 week high of $11.29. The company has a market capitalization of $493.25 million, a P/E ratio of -0.36 and a beta of 1.77. The firm has a fifty day moving average of $4.66 and a two-hundred day moving average of $5.04. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84.

Xerox (NYSE:XRX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share (EPS) 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 prior year, the business earned $0.29 earnings per share. The business's quarterly revenue was down .1% compared to the same quarter last year. Xerox has set its FY 2025 guidance at EPS. As a group, analysts predict that Xerox Holdings Co. will post 1.07 EPS for the current fiscal year.

Xerox Announces Dividend

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

Insiders Place Their Bets

In other news, Director A. Scott Letier bought 29,600 shares of the business's stock in a transaction on Friday, August 1st. The stock was purchased at an average cost of $3.95 per share, for a total transaction of $116,920.00. Following the completion of the transaction, the director directly owned 58,984 shares of the company's stock, valued at approximately $232,986.80. This trade represents a 100.74% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.

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.