Victory Capital Management Inc. Raises Holdings in Xerox Holdings Co. (NYSE:XRX)

Posted by Defense World Staff on Oct 28th, 2023

Victory Capital Management Inc. lifted its holdings in Xerox Holdings Co. (NYSE:XRX – Free Report) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,233 shares of the information technology services provider’s stock after purchasing an additional 3,365 shares during the quarter. Victory Capital Management Inc. owned 0.10% of Xerox worth $2,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of XRX. JPMorgan Chase & Co. boosted its holdings in shares of Xerox by 20.2% during the 1st quarter. JPMorgan Chase & Co. now owns 560,997 shares of the information technology services provider’s stock valued at $11,315,000 after acquiring an additional 94,090 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Xerox in the first quarter worth approximately $604,000. American Century Companies Inc. grew its position in Xerox by 14.5% in the 1st quarter. American Century Companies Inc. now owns 28,887 shares of the information technology services provider’s stock worth $582,000 after purchasing an additional 3,654 shares during the period. US Bancorp DE raised its stake in Xerox by 24.4% during the 1st quarter. US Bancorp DE now owns 8,232 shares of the information technology services provider’s stock valued at $167,000 after buying an additional 1,615 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Xerox by 12.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,121 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 1,807 shares during the period. 83.53% of the stock is owned by institutional investors.

Insider Activity at Xerox

In other Xerox news, EVP Suzan Morno-Wade sold 9,126 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $16.75, for a total transaction of $152,860.50. Following the sale, the executive vice president now directly owns 46,323 shares of the company’s stock, valued at $775,910.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Carl C. Icahn sold 34,245,314 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $15.84, for a total transaction of $542,445,773.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Suzan Morno-Wade sold 9,126 shares of Xerox stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $16.75, for a total transaction of $152,860.50. Following the completion of the sale, the executive vice president now owns 46,323 shares in the company, valued at $775,910.25. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Xerox Stock Performance

NYSE:XRX opened at $12.19 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.88 and a current ratio of 1.12. The stock has a 50-day simple moving average of $15.32 and a two-hundred day simple moving average of $15.10. The firm has a market capitalization of $1.92 billion, a PE ratio of 11.72 and a beta of 1.64. Xerox Holdings Co. has a 52-week low of $12.06 and a 52-week high of $18.00.

Xerox (NYSE:XRX – Get Free Report) last announced its quarterly earnings data on Tuesday, October 24th. The information technology services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. Xerox had a return on equity of 11.59% and a net margin of 2.55%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company posted $0.19 EPS. The firm’s revenue was down 5.7% on a year-over-year basis. Analysts forecast that Xerox Holdings Co. will post 1.8 EPS for the current year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.00 annualized dividend and a dividend yield of 8.20%. Xerox’s payout ratio is 96.15%.

Analyst Upgrades and Downgrades

XRX has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Xerox from $16.00 to $15.00 and set an “underweight” rating for the company in a report on Wednesday. StockNews.com started coverage on shares of Xerox in a research report on Thursday, October 5th. They set a “buy” rating for the company. Finally, Morgan Stanley dropped their price objective on shares of Xerox from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Wednesday.

Check Out Our Latest Report on Xerox

Xerox Profile

(Free Report)

Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the Americas, Europe, the Middle East, Africa, India, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.

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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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