Xerox Holdings Co. $XRX Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 19.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,670,011 shares of the information technology services provider’s stock after acquiring an additional 268,469 shares during the period. Allianz Asset Management GmbH owned about 1.33% of Xerox worth $8,801,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Paradigm Capital Management Inc. NY raised its position in Xerox by 2,392.4% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,246,200 shares of the information technology services provider’s stock worth $6,019,000 after acquiring an additional 1,196,200 shares during the last quarter. Strs Ohio acquired a new position in Xerox during the first quarter worth about $479,000. Goldman Sachs Group Inc. raised its position in Xerox by 37.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,575,229 shares of the information technology services provider’s stock worth $7,608,000 after acquiring an additional 431,349 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Xerox by 569.7% during the first quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider’s stock worth $34,000 after buying an additional 5,993 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Xerox during the first quarter worth about $360,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Xerox from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 3rd. Citigroup assumed coverage on shares of Xerox in a report on Monday, August 18th. They set 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $6.83.

Xerox Price Performance

Xerox stock opened at $3.21 on Wednesday. Xerox Holdings Co. has a 1 year low of $3.03 and a 1 year high of $10.58. The firm has a 50 day moving average price of $3.73 and a 200 day moving average price of $4.51. The company has a market cap of $403.91 million, a price-to-earnings ratio of -0.30 and a beta of 1.81. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11.

Xerox (NYSE:XRX) last released its 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%. During the same quarter in the previous year, the company earned $0.29 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Xerox has set its FY 2025 guidance at EPS. Sell-side analysts predict that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, September 30th. Xerox’s payout ratio is currently -0.87%.

Insider Transactions at Xerox

In other Xerox news, Director A. Scott Letier acquired 29,600 shares of the firm’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 completion of the purchase, the director directly owned 58,984 shares in the company, valued at $232,986.80. This represents a 100.74% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Xerox 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.