Geode Capital Management LLC Sells 45,046 Shares of Xerox Holdings Co. $XRX

Geode Capital Management LLC reduced its stake in Xerox Holdings Co. (NYSE:XRX) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,888,415 shares of the information technology services provider’s stock after selling 45,046 shares during the period. Geode Capital Management LLC owned about 2.30% of Xerox worth $15,224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in XRX. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Xerox by 29.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,234 shares of the information technology services provider’s stock valued at $170,000 after acquiring an additional 7,932 shares during the last quarter. Mackenzie Financial Corp raised its position in Xerox by 539.0% in the first quarter. Mackenzie Financial Corp now owns 108,558 shares of the information technology services provider’s stock valued at $524,000 after purchasing an additional 91,570 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Xerox by 440.2% during the first quarter. XTX Topco Ltd now owns 179,787 shares of the information technology services provider’s stock valued at $868,000 after purchasing an additional 146,503 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Xerox during the first quarter worth about $196,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of 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 buying an additional 2,911 shares during the period. Institutional investors own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in 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 cut their price target on shares of Xerox from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Monday, November 10th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.50.

Xerox Stock Down 4.0%

Shares of NYSE XRX opened at $2.67 on Tuesday. Xerox Holdings Co. has a 52-week low of $2.32 and a 52-week high of $9.91. 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 company’s 50 day moving average price is $3.20 and its 200-day moving average price is $4.20. The company has a market capitalization of $341.87 million, a P/E ratio of -0.25 and a beta of 1.80.

Xerox (NYSE:XRX) last announced its earnings results on Thursday, October 30th. The information technology services provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.38. Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. Xerox’s revenue was up 28.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Xerox has set its FY 2025 guidance at EPS. Equities analysts forecast that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Wednesday, December 31st. Xerox’s payout ratio is presently -1.28%.

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.