Cidel Asset Management Inc. Acquires Shares of 10,804 Xerox Holdings Co. $XRX

Cidel Asset Management Inc. acquired a new stake in Xerox Holdings Co. (NYSE:XRX) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 10,804 shares of the information technology services provider’s stock, valued at approximately $57,000.

Other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in Xerox by 110.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 2,911 shares in the last quarter. Allworth Financial LP boosted its stake in shares of 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 acquiring an additional 3,484 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Xerox by 331.8% during the 1st quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 5,000 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Xerox by 569.7% during the 1st quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 5,993 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Xerox during the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Stock Performance

NYSE XRX opened at $3.19 on Tuesday. Xerox Holdings Co. has a fifty-two week low of $3.03 and a fifty-two week high of $10.78. The stock has a market cap of $401.39 million, a price-to-earnings ratio of -0.30 and a beta of 1.81. The business has a fifty day moving average of $3.75 and a 200-day moving average of $4.52. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share for the quarter, missing the consensus estimate 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 was down .1% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. Xerox has set its FY 2025 guidance at EPS. As a group, 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 declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.025 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.10 annualized dividend and a yield of 3.1%. Xerox’s payout ratio is -0.87%.

Analyst Ratings Changes

Several brokerages have recently commented on XRX. Zacks Research raised Xerox from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 3rd. Citigroup began coverage on 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $6.83.

Insiders Place Their Bets

In other Xerox news, Director A. Scott Letier purchased 29,600 shares of the business’s stock in a transaction on Friday, August 1st. The stock was bought 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 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 at this link. Company insiders own 1.50% of the company’s stock.

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.