Maryland State Retirement & Pension System Lowers Position in Xerox Holdings Co. $XRX

Maryland State Retirement & Pension System decreased its stake in Xerox Holdings Co. (NYSE:XRX) by 11.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,724 shares of the information technology services provider’s stock after selling 4,319 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Xerox were worth $168,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in XRX. LPL Financial LLC raised its stake in Xerox by 13.0% during the 4th quarter. LPL Financial LLC now owns 77,064 shares of the information technology services provider’s stock worth $650,000 after acquiring an additional 8,837 shares during the period. Russell Investments Group Ltd. raised its position in shares of Xerox by 3.0% during the 4th quarter. Russell Investments Group Ltd. now owns 87,466 shares of the information technology services provider’s stock valued at $737,000 after purchasing an additional 2,534 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Xerox during the 4th quarter valued at $208,000. Sterling Capital Management LLC lifted its stake in shares of Xerox by 48.9% during the 4th quarter. Sterling Capital Management LLC now owns 10,106 shares of the information technology services provider’s stock valued at $85,000 after buying an additional 3,319 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Xerox in the 4th quarter worth $281,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director A. Scott Letier purchased 29,600 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average cost of $3.95 per share, for a total transaction of $116,920.00. Following the acquisition, the director 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mirlanda Gecaj bought 10,000 shares of the company’s stock in a transaction on Friday, May 23rd. The shares were acquired at an average price of $4.41 per share, with a total value of $44,100.00. Following the transaction, the chief financial officer directly owned 15,956 shares of the company’s stock, valued at approximately $70,365.96. This trade represents a 167.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 117,079 shares of company stock valued at $502,045 in the last quarter. 1.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Citigroup began coverage on Xerox in a research note on Monday. They issued a “neutral” rating and a $4.50 price target for the company. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Xerox presently has a consensus rating of “Sell” and an average price target of $6.83.

Xerox Stock Up 2.3%

NYSE XRX opened at $3.95 on Wednesday. Xerox Holdings Co. has a one year low of $3.44 and a one year high of $11.42. 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 has a 50 day moving average price of $5.06 and a 200-day moving average price of $5.42. The company has a market capitalization of $497.02 million, a P/E ratio of -0.37 and a beta of 1.79.

Xerox (NYSE:XRX) last released its earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share 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%. The company’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 EPS. Xerox has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Xerox Holdings Co. will post 1.07 EPS for the current fiscal year.

Xerox Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.5%. Xerox’s payout ratio is currently -0.87%.

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.