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

Cidel Asset Management Inc. purchased a new stake in Xerox Holdings Co. (NYSE:XRX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,804 shares of the information technology services provider’s stock, valued at approximately $57,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake 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 valued at $27,000 after buying an additional 2,911 shares in the last quarter. Allworth Financial LP increased its position in shares of Xerox by 137.7% during 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. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Xerox during the second quarter worth about $34,000. Larson Financial Group LLC increased its position in shares of Xerox by 331.8% during 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. Finally, GAMMA Investing LLC increased its position 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 purchasing an additional 5,993 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Xerox news, Director A. Scott Letier acquired 29,600 shares of the stock in a transaction on Friday, August 1st. The shares were bought 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 $232,986.80. This trade represents a 100.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

XRX has been the topic of a number of research analyst reports. Zacks Research upgraded Xerox from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 3rd. Citigroup initiated coverage on Xerox in a research report on Monday, August 18th. They set a “neutral” rating and a $4.50 target price on the stock. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $6.83.

Xerox Stock Performance

NYSE XRX opened at $3.19 on Tuesday. 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 Holdings Co. has a 52-week low of $3.03 and a 52-week high of $10.78. The business’s 50-day moving average price is $3.75 and its 200 day moving average price is $4.52. The firm has a market cap of $401.39 million, a P/E ratio of -0.30 and a beta of 1.81.

Xerox (NYSE:XRX) last released its quarterly 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 positive return on equity of 7.57% and a negative net margin of 21.24%.During the same period in the previous year, the business posted $0.29 EPS. The firm’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 expect that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.1%. Xerox’s dividend payout ratio (DPR) is currently -0.87%.

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.