Kovack Advisors Inc. Acquires 36,650 Shares of Xerox Holdings Co. $XRX

Kovack Advisors Inc. increased its holdings in Xerox Holdings Co. (NYSE:XRX) by 29.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,050 shares of the information technology services provider’s stock after purchasing an additional 36,650 shares during the period. Kovack Advisors Inc.’s holdings in Xerox were worth $849,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in 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 worth $27,000 after purchasing an additional 2,911 shares in the last quarter. Allworth Financial LP boosted its holdings in Xerox by 137.7% in the first quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 3,484 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Xerox by 331.8% in the first quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 5,000 shares in the last quarter. Spire Wealth Management bought a new stake in Xerox in the second quarter worth $31,000. Finally, GAMMA Investing LLC boosted its holdings in Xerox by 569.7% in the first quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 5,993 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

XRX has been the subject of a number of research analyst reports. Citigroup initiated coverage on shares of Xerox in a research report on Monday, August 18th. They set a “neutral” rating and a $4.50 target price for the company. Zacks Research upgraded shares of Xerox from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 3rd. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.50.

Xerox Stock Up 7.4%

XRX stock opened at $3.32 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. Xerox Holdings Co. has a 52-week low of $3.02 and a 52-week high of $9.91. The company has a 50-day moving average of $3.64 and a two-hundred day moving average of $4.48. The stock has a market capitalization of $417.75 million, a price-to-earnings ratio of -0.31 and a beta of 1.81.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Thursday, October 30th. The information technology services provider reported $0.20 EPS for the quarter, beating 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 for the quarter was up 28.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. Xerox has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Xerox Holdings Co. will post 1.07 EPS for the current year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.0%. 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.