Rhumbline Advisers Sells 9,862 Shares of Xerox Holdings Co. $XRX

Rhumbline Advisers decreased its position in shares of Xerox Holdings Co. (NYSE:XRX) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 352,047 shares of the information technology services provider’s stock after selling 9,862 shares during the period. Rhumbline Advisers owned 0.28% of Xerox worth $1,700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its stake 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 acquiring an additional 3,509,574 shares during the period. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $9,982,000 after buying an additional 254,474 shares in the last quarter. Invesco Ltd. grew its holdings 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 valued at $8,871,000 after buying an additional 130,571 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Xerox by 37.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,575,229 shares of the information technology services provider’s stock valued at $7,608,000 after buying an additional 431,349 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY grew its holdings in Xerox by 2,392.4% during 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 buying an additional 1,196,200 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Insider Buying and Selling

In related news, Director A. Scott Letier purchased 29,600 shares of Xerox stock in a transaction dated Friday, August 1st. The shares were acquired 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 approximately $232,986.80. The trade was a 100.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Zacks Research raised shares of Xerox from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 3rd. Citigroup assumed coverage on shares of Xerox in a report on Monday, August 18th. They set a “neutral” rating and a $4.50 price objective for the company. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Xerox currently has a consensus rating of “Reduce” and a consensus target price of $6.83.

Xerox Stock Performance

XRX stock opened at $3.99 on Friday. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84. The business has a 50-day moving average price of $4.35 and a 200 day moving average price of $4.83. The company has a market capitalization of $502.06 million, a P/E ratio of -0.37 and a beta of 1.77. Xerox Holdings Co. has a 1-year low of $3.44 and a 1-year high of $11.29.

Xerox (NYSE:XRX) last announced its earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.71). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%.Xerox’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share. Xerox has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Xerox Holdings Co. will post 1.07 EPS for the current fiscal year.

Xerox Dividend Announcement

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 $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Xerox’s dividend 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.