Xerox (NYSE:XRX) Trading 7.4% Higher – Here’s What Happened

Xerox Holdings Co. (NYSE:XRX) shares were up 7.4% on Tuesday . The company traded as high as $5.68 and last traded at $5.73. Approximately 596,216 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 3,027,021 shares. The stock had previously closed at $5.33.

Xerox Trading Up 9.5%

The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The business has a 50 day moving average of $4.67 and a two-hundred day moving average of $6.77. The firm has a market cap of $733.98 million, a P/E ratio of -0.54 and a beta of 1.81.

Xerox (NYSE:XRX) last posted its earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%. During the same quarter last year, the firm posted $0.06 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Analysts predict that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.025 per share. The ex-dividend date is Monday, June 30th. This represents a $0.10 annualized dividend and a yield of 1.71%. Xerox’s payout ratio is currently -0.95%.

Insider Buying and Selling at Xerox

In related news, Director A. Scott Letier acquired 25,000 shares of the stock in a transaction on Friday, May 23rd. The shares were purchased at an average price of $4.43 per share, for a total transaction of $110,750.00. Following the purchase, the director now directly owns 29,384 shares in the company, valued at approximately $130,171.12. The trade was a 570.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Steven John Bandrowczak bought 22,300 shares of the business’s stock in a transaction dated Friday, May 23rd. The shares were bought at an average price of $4.48 per share, with a total value of $99,904.00. Following the completion of the transaction, the chief executive officer now owns 382,442 shares in the company, valued at approximately $1,713,340.16. This trade represents a 6.19% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 82,300 shares of company stock valued at $364,254 in the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Xerox

Large investors have recently modified their holdings of the stock. Picton Mahoney Asset Management lifted its position in Xerox by 330.5% during the fourth quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 2,885 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Xerox by 110.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 2,911 shares during the period. TD Waterhouse Canada Inc. bought a new position in Xerox in the fourth quarter valued at approximately $51,000. Allworth Financial LP raised its position in Xerox by 137.7% during the first quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 3,484 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in 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 during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

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.