SummerHaven Investment Management LLC Grows Holdings in Xerox Holdings Co. $XRX

SummerHaven Investment Management LLC boosted its holdings in Xerox Holdings Co. (NYSE:XRX) by 4.7% in the 2nd quarter, Holdings Channel reports. The firm owned 75,528 shares of the information technology services provider’s stock after purchasing an additional 3,399 shares during the period. SummerHaven Investment Management LLC’s holdings in Xerox were worth $398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of XRX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Xerox by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,047 shares of the information technology services provider’s stock worth $333,000 after buying an additional 2,838 shares during the last quarter. PNC Financial Services Group Inc. raised its position in 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 buying an additional 2,911 shares during the last quarter. SBI Securities Co. Ltd. raised its position in Xerox by 21.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 17,281 shares of the information technology services provider’s stock worth $83,000 after buying an additional 3,066 shares during the last quarter. Yousif Capital Management LLC raised its position in Xerox by 5.7% during the 1st quarter. Yousif Capital Management LLC now owns 56,907 shares of the information technology services provider’s stock worth $275,000 after buying an additional 3,091 shares during the last quarter. Finally, Allworth Financial LP raised its position in Xerox by 137.7% during the 1st quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider’s stock worth $29,000 after buying an additional 3,484 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on XRX shares. Zacks Research upgraded shares of Xerox from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 3rd. Citigroup started coverage on shares of Xerox in a research report on Monday, August 18th. They set a “neutral” rating and a $4.50 price objective for the company. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Xerox has an average rating of “Reduce” and an average target price of $6.83.

Insider Buying and Selling

In other Xerox news, Director A. Scott Letier acquired 29,600 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost of $3.95 per share, with a total value of $116,920.00. Following 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 the SEC website. Insiders own 1.50% of the company’s stock.

Xerox Stock Performance

Shares of XRX opened at $3.76 on Tuesday. The company has a 50-day simple moving average of $4.19 and a 200-day simple moving average of $4.70. 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 company has a market capitalization of $473.12 million, a PE ratio of -0.35 and a beta of 1.77. Xerox Holdings Co. has a 52-week low of $3.44 and a 52-week high of $11.29.

Xerox (NYSE:XRX) 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 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 business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 earnings per share. Xerox has set its FY 2025 guidance at EPS. Equities research analysts predict that Xerox Holdings Co. will post 1.07 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 30th. Xerox’s dividend payout ratio is presently -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.