Xerox Holdings Corporation

In spite of macroeconomic challenges, Xerox managed to deliver an earnings beat in the last quarterly result. The signings of its content and capture business, including processing, data extraction, and digital mailroom services, grew double digits though the company did miss out on revenues. The company has recently announced the launch of a complete range of solutions for the productivity of the workplace. Also, it has launched a worldwide intelligent document process offering to strengthen its content and capture capabilities. The business of IT services also grew this quarter as Xerox’s management found new ways of partnering with medium and small businesses which are adopting a hybrid work environment and are undergoing some complex digital transitions. Commercial transaction volumes in the company’s robotic process automation offering grew sequentially. Among third-party OEMs and independent dealers, FITTLE has been continuing to expand its presence. Xerox’s 3D printing business Elem has recently installed a liquid 3D metal printer in the USS Essex. It is the first of its kind that has been positioned on a U.S. Navy vessel. We provide the stock of Xerox with a ‘Hold’ rating with a revision in the target price.