Xerox (NYSE:XRX) Research Coverage Started at Citigroup

Citigroup started coverage on shares of Xerox (NYSE:XRX) in a report published on Monday morning, MarketBeat.com reports. The brokerage issued a neutral rating and a $4.50 target price on the information technology services provider’s stock.

Xerox Stock Down 3.3%

Shares of NYSE XRX opened at $3.82 on Monday. The stock has a market capitalization of $480.67 million, a P/E ratio of -0.36 and a beta of 1.79. The company has a 50-day moving average price of $5.02 and a 200-day moving average price of $5.41. Xerox has a 1 year low of $3.44 and a 1 year high of $11.42. 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 (NYSE:XRX) last issued its quarterly earnings data 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%. During the same quarter last year, the firm earned $0.29 EPS. Xerox’s revenue for the quarter was down .1% compared to the same quarter last year. Xerox has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Xerox will post 1.07 EPS for the current fiscal year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.025 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.10 annualized dividend and a yield of 2.6%. Xerox’s payout ratio is currently -0.87%.

Insider Buying and Selling at Xerox

In other news, Director A. Scott Letier bought 29,600 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average price of $3.95 per share, with a total value of $116,920.00. Following the acquisition, the director owned 58,984 shares of the company’s stock, valued at approximately $232,986.80. The trade was a 100.74% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Steven John Bandrowczak bought 22,300 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of $4.48 per share, for a total transaction of $99,904.00. Following the acquisition, the chief executive officer directly owned 382,442 shares in the company, valued at $1,713,340.16. This trade represents a 6.19% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 117,079 shares of company stock worth $502,045. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Xerox

Institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. grew its holdings in Xerox by 2,035.4% in 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 last quarter. Marshall Wace LLP increased its holdings in Xerox by 71.0% during the 2nd quarter. Marshall Wace LLP now owns 3,928,444 shares of the information technology services provider’s stock valued at $20,703,000 after purchasing an additional 1,630,999 shares during the period. Paradigm Capital Management Inc. NY increased 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 purchasing an additional 1,196,200 shares during the period. Point72 Asset Management L.P. increased its holdings in Xerox by 2,846.8% during the 4th quarter. Point72 Asset Management L.P. now owns 1,128,973 shares of the information technology services provider’s stock valued at $9,517,000 after purchasing an additional 1,090,661 shares during the period. Finally, Private Management Group Inc. purchased a new position in Xerox during the 2nd quarter valued at about $5,513,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

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.