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

Several other hedge funds have also recently bought and sold shares of the stock. Federated Hermes Inc. raised its holdings in Xerox by 2,035.4% during the 1st quarter. Federated Hermes Inc. now owns 3,682,002 shares of the information technology services provider's stock worth $17,784,000 after buying an additional 3,509,574 shares during the period. Northern Trust Corp grew its stake in shares of Xerox by 7.7% during the 4th quarter. Northern Trust Corp now owns 1,405,471 shares of the information technology services provider's stock worth $11,848,000 after acquiring an additional 100,900 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Xerox by 2,846.8% during the 4th quarter. Point72 Asset Management L.P. now owns 1,128,973 shares of the information technology services provider's stock worth $9,517,000 after acquiring an additional 1,090,661 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of Xerox by 2.0% during the 1st quarter. Sound Income Strategies LLC now owns 1,124,318 shares of the information technology services provider's stock worth $5,430,000 after acquiring an additional 21,630 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Xerox by 6.4% during the 4th quarter. Nuveen Asset Management LLC now owns 997,349 shares of the information technology services provider's stock worth $8,408,000 after acquiring an additional 60,283 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Xerox

In other Xerox news, Director A. Scott Letier purchased 29,600 shares of the business's stock in a transaction on Friday, August 1st. The stock was acquired at an average price of $3.95 per share, with a total value of $116,920.00. Following the acquisition, the director directly owned 58,984 shares of the company's stock, valued at $232,986.80. This trade represents a 100.74% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Citigroup assumed 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. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Sell" and an average target price of $6.83.

Xerox Stock Up 0.6%

Shares of NYSE:XRX traded up $0.03 during midday trading on Thursday, hitting $3.91. The stock had a trading volume of 1,833,903 shares, compared to its average volume of 4,074,180. Xerox Holdings Co. has a 12 month low of $3.44 and a 12 month high of $11.42. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The business's 50-day simple moving average is $4.87 and its 200-day simple moving average is $5.25. The company has a market cap of $491.36 million, a P/E ratio of -0.36 and a beta of 1.79.

Xerox (NYSE:XRX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.71). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. During the same period last year, the company posted $0.29 EPS. The business's revenue for the quarter was down .1% compared to the same quarter last year. Xerox has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Xerox Holdings Co. will post 1.07 earnings per share for the current fiscal year.

Xerox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued 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 2.6%. Xerox's dividend payout ratio (DPR) 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.