Graham Capital Management L.P. Raises Stock Holdings in Xerox Holdings Co. $XRX

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 Xerox Holdings Co. (NYSE:XRX - Free Report) by 121.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,260 shares of the information technology services provider's stock after acquiring an additional 108,046 shares during the quarter. Graham Capital Management L.P. owned approximately 0.16% of Xerox worth $953,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its position in shares of Xerox by 2,035.4% in the first quarter. Federated Hermes Inc. now owns 3,682,002 shares of the information technology services provider's stock valued at $17,784,000 after purchasing an additional 3,509,574 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Xerox by 14.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,066,576 shares of the information technology services provider's stock worth $9,982,000 after buying an additional 254,474 shares during the period. Invesco Ltd. boosted its position in Xerox by 7.7% during the 1st quarter. Invesco Ltd. now owns 1,836,657 shares of the information technology services provider's stock worth $8,871,000 after buying an additional 130,571 shares during the period. Northern Trust Corp increased its stake in shares of Xerox by 7.7% in the 4th quarter. Northern Trust Corp now owns 1,405,471 shares of the information technology services provider's stock valued at $11,848,000 after acquiring an additional 100,900 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY increased its stake in shares of Xerox by 2,392.4% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,246,200 shares of the information technology services provider's stock valued at $6,019,000 after acquiring an additional 1,196,200 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Insider Buying and Selling at Xerox

In other Xerox news, Director A. Scott Letier acquired 29,600 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of $3.95 per share, for a total transaction of $116,920.00. Following the acquisition, the director directly owned 58,984 shares in the company, valued at $232,986.80. The trade was a 100.74% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on XRX shares. Citigroup initiated coverage on shares of Xerox in a research note on Monday, August 18th. They set a "neutral" rating and a $4.50 price target for the company. Zacks Research raised shares of Xerox from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. 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 data from MarketBeat, Xerox currently has an average rating of "Reduce" and a consensus price target of $6.83.

Xerox Stock Down 3.0%

Shares of NYSE:XRX traded down $0.12 on Tuesday, hitting $3.72. 1,286,890 shares of the company traded hands, compared to its average volume of 4,048,973. Xerox Holdings Co. has a 52 week low of $3.44 and a 52 week high of $11.29. The stock has a 50 day simple moving average of $4.63 and a 200-day simple moving average of $4.99. The company has a market cap of $467.45 million, a PE ratio of -0.35 and a beta of 1.77. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61.

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

Xerox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.10 annualized dividend and a dividend yield of 2.7%. Xerox's payout ratio is currently -0.87%.

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.