Sound Income Strategies LLC Grows Stake in Xerox Holdings Co. $XRX

Sound Income Strategies LLC boosted its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,168,559 shares of the information technology services provider’s stock after acquiring an additional 44,241 shares during the period. Sound Income Strategies LLC owned 0.93% of Xerox worth $6,158,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Federated Hermes Inc. grew 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 valued at $17,784,000 after acquiring an additional 3,509,574 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake 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 acquiring an additional 254,474 shares in the last quarter. Invesco Ltd. grew its stake 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 acquiring an additional 130,571 shares in the last quarter. Goldman Sachs Group Inc. grew its stake 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 acquiring an additional 431,349 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY grew its stake 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 acquiring an additional 1,196,200 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Stock Performance

Xerox stock opened at $3.75 on Monday. The firm has a 50 day simple moving average of $4.22 and a 200-day simple moving average of $4.72. 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 1-year low of $3.44 and a 1-year high of $11.29. The stock has a market cap of $471.86 million, a price-to-earnings ratio of -0.35 and a beta of 1.77.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Thursday, July 31st. The information technology services provider reported ($0.64) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.71). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%.During the same quarter last year, the business earned $0.29 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. Xerox has set its FY 2025 guidance at EPS. On average, analysts expect 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 will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 30th. Xerox’s dividend payout ratio is currently -0.87%.

Insider Activity at Xerox

In related news, Director A. Scott Letier acquired 29,600 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were purchased at an average cost of $3.95 per share, for a total transaction of $116,920.00. Following the acquisition, the director owned 58,984 shares in the company, valued at $232,986.80. The trade was a 100.74% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Zacks Research raised shares of Xerox from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 3rd. Citigroup initiated coverage on shares of Xerox in a research note on Monday, August 18th. They issued a “neutral” rating and a $4.50 price target for the company. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Xerox presently has an average rating of “Reduce” and a consensus price target of $6.83.

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.