Invesco Ltd. Acquires 130,571 Shares of Xerox Holdings Co. $XRX

Key Points

• Invesco Ltd. increased its stake in Xerox Holdings Co. by 7.7% in the first quarter, acquiring an additional 130,571 shares, now owning approximately 1.46% of the company valued at $8.87 million.
• Xerox's recent quarterly earnings report showed a loss of ($0.64) per share, which missed analysts' expectations of $0.07, and its revenue decreased by 0.1% year-over-year.
• Xerox declared a quarterly dividend of $0.025, with a yield of 2.6%, to be paid on October 31st to stockholders recorded by September 30th.

Invesco Ltd. raised its holdings in Xerox Holdings Co. (NYSE:XRX - Free Report) by 7.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,836,657 shares of the information technology services provider's stock after acquiring an additional 130,571 shares during the quarter. Invesco Ltd. owned about 1.46% of Xerox worth $8,871,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in Xerox by 110.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider's stock valued at $27,000 after purchasing an additional 2,911 shares during the last quarter. Allworth Financial LP increased its holdings in Xerox by 137.7% in the first 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 during the last quarter. Larson Financial Group LLC increased its holdings in Xerox by 331.8% in the first 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 during the last quarter. GAMMA Investing LLC increased its holdings in Xerox by 569.7% in the first 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 during the last quarter. Finally, TD Waterhouse Canada Inc. bought a new stake in Xerox in the fourth quarter valued at about $51,000. 85.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup started coverage on Xerox in a research note on Monday, August 18th. They issued a "neutral" rating and a $4.50 target price for the company. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Sell" and an average price target of $6.83.

Insider Activity at Xerox

In other news, Director A. Scott Letier acquired 29,600 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was bought at an average price of $3.95 per share, with a total value of $116,920.00. Following the transaction, the director directly owned 58,984 shares in the company, valued at approximately $232,986.80. The trade was a 100.74% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Xerox Stock Up 0.5%

XRX stock traded up $0.02 during trading hours on Thursday, reaching $3.90. 3,068,686 shares of the stock were exchanged, compared to its average volume of 4,083,616. The firm's 50-day moving average is $4.87 and its 200-day moving average is $5.25. 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 Holdings Co. has a 12 month low of $3.44 and a 12 month high of $11.42. The company has a market cap of $490.73 million, a price-to-earnings ratio of -0.36 and a beta of 1.79.

Xerox (NYSE:XRX - Get Free Report) last issued its quarterly earnings results 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 quarter in the prior year, the firm earned $0.29 EPS. The business's revenue was down .1% compared to the same quarter last year. Xerox has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Xerox's dividend payout ratio (DPR) is -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.