Insider Buying: Xerox Holdings Co. (NYSE:XRX) Director Purchases $116,920.00 in Stock

Key Points

• A. Scott Letier, a director at Xerox Holdings Co., purchased 29,600 shares at an average price of $3.95, increasing his ownership by 100.74%.
• Xerox’s stock experienced a 1.5% decline, trading at $4.07 with a market capitalization of $511.97 million.
($0.64) EPS for the last quarter, missing estimates significantly, with revenues down by 0.1% year-over-year.

Xerox Holdings Co. (NYSE:XRX - Get Free Report) Director A. Scott Letier purchased 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, for a total transaction of $116,920.00. Following the acquisition, the director owned 58,984 shares of the company's stock, valued at approximately $232,986.80. The trade was a 100.74% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

A. Scott Letier also recently made the following trade(s):

• On Friday, May 23rd, A. Scott Letier acquired 25,000 shares of Xerox stock. The shares were acquired at an average cost of $4.43 per share, with a total value of $110,750.00.

Xerox Stock Performance

XRX traded down $0.05 during midday trading on Friday, reaching $4.17. The company's stock had a trading volume of 3,675,441 shares, compared to its average volume of 4,081,715. 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 company has a fifty day simple moving average of $5.21 and a 200 day simple moving average of $5.69. The stock has a market cap of $524.54 million, a P/E ratio of -0.39 and a beta of 1.79. Xerox Holdings Co. has a twelve month low of $3.44 and a twelve month high of $11.42.

Xerox (NYSE:XRX - Get Free Report) last announced 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 positive return on equity of 7.57% and a negative net margin of 21.24%. The firm's revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 EPS. 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 announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, September 30th. Xerox's dividend payout ratio (DPR) is presently -0.87%.

Institutional Investors Weigh In On Xerox

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Xerox by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider's stock valued at $132,888,000 after acquiring an additional 199,598 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Xerox by 2,035.4% during the 1st quarter. Federated Hermes Inc. now owns 3,682,002 shares of the information technology services provider's stock worth $17,784,000 after purchasing an additional 3,509,574 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Xerox by 14.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,066,576 shares of the information technology services provider's stock valued at $9,982,000 after purchasing an additional 254,474 shares during the period. Invesco Ltd. raised its stake in shares of Xerox by 7.7% in the first quarter. Invesco Ltd. now owns 1,836,657 shares of the information technology services provider's stock valued at $8,871,000 after purchasing an additional 130,571 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Xerox by 19.2% in the second quarter. Allianz Asset Management GmbH now owns 1,670,011 shares of the information technology services provider's stock worth $8,801,000 after purchasing an additional 268,469 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

About Xerox

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.