Vanguard Group Inc. Sells 159,012 Shares of Xerox Holdings Co. $XRX

Key Points

• Vanguard Group Inc. reduced its stake in Xerox Holdings Co. by 1.0% in the first quarter, now holding 15,604,667 shares valued at approximately $75.37 million.
• According to analysts, Xerox has a consensus rating of "Sell" with an average price target of $6.83, although Citigroup has recently set a neutral rating with a target price of $4.50.
• Xerox reported a loss of $0.64 EPS for the last quarter, significantly missing the consensus estimate, and announced a quarterly dividend of $0.025, reflecting a yield of 2.6%.

Vanguard Group Inc. reduced its stake in Xerox Holdings Co. (NYSE:XRX - Free Report) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,604,667 shares of the information technology services provider's stock after selling 159,012 shares during the quarter. Vanguard Group Inc. owned 12.41% of Xerox worth $75,371,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in XRX. PNC Financial Services Group Inc. increased its stake in shares of Xerox by 110.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 2,911 shares during the last quarter. TD Waterhouse Canada Inc. bought a new stake in Xerox in the 4th quarter valued at about $51,000. Allworth Financial LP boosted its holdings in Xerox by 137.7% in the 1st 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 period. Larson Financial Group LLC lifted its holdings in shares of Xerox by 331.8% during the 1st quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 5,000 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Xerox by 569.7% during the 1st quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 5,993 shares during the period. 85.36% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director A. Scott Letier acquired 29,600 shares of Xerox stock in a transaction that occurred on 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 completion of the purchase, the director owned 58,984 shares in the company, valued at approximately $232,986.80. The trade was a 100.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

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

Xerox Stock Up 2.1%

Shares of Xerox stock traded up $0.08 during trading hours on Friday, reaching $3.98. The company's stock had a trading volume of 2,573,335 shares, compared to its average volume of 4,074,475. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The stock's fifty day simple moving average is $4.81 and its two-hundred day simple moving average is $5.20. Xerox Holdings Co. has a one year low of $3.44 and a one year high of $11.42. The company has a market capitalization of $500.80 million, a P/E ratio of -0.37 and a beta of 1.79.

Xerox (NYSE:XRX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.71). 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 .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. Xerox has set its FY 2025 guidance at EPS. On average, research analysts forecast that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid 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 yield of 2.5%. Xerox's payout ratio is currently -0.87%.

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.