Xerox (NYSE:XRX) Shares Gap Down - What's Next?

Xerox Holdings Co. (NYSE:XRX - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $5.12, but opened at $4.54. Xerox shares last traded at $4.46, with a volume of 2,296,712 shares traded.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Xerox from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. According to MarketBeat.com, Xerox has a consensus rating of "Reduce" and a consensus price target of $9.50.

Xerox Stock Down 0.8%

The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The business has a fifty day simple moving average of $4.70 and a two-hundred day simple moving average of $7.01. The company has a market capitalization of $603.79 million, a price-to-earnings ratio of -0.45 and a beta of 1.75.

Xerox (NYSE:XRX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. During the same period last year, the business posted $0.06 earnings per share. The company's revenue was down 3.0% compared to the same quarter last year. Equities analysts expect that Xerox Holdings Co. will post 1.07 EPS for the current year.

Insider Buying and Selling at Xerox

In related news, CEO Steven John Bandrowczak purchased 22,300 shares of Xerox stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average price of $4.48 per share, for a total transaction of $99,904.00. Following the transaction, the chief executive officer now directly owns 382,442 shares in the company, valued at approximately $1,713,340.16. This represents a 6.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mirlanda Gecaj bought 10,000 shares of Xerox stock in a transaction dated Friday, May 23rd. The shares were bought at an average price of $4.41 per share, for a total transaction of $44,100.00. Following the completion of the transaction, the chief financial officer now directly owns 15,956 shares of the company's stock, valued at $70,365.96. This represents a 167.90% 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 worth $364,254 over the last ninety days. Corporate insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Xerox

Large investors have recently modified their holdings of the stock. Yousif Capital Management LLC lifted its holdings in Xerox by 2.8% during the 4th quarter. Yousif Capital Management LLC now owns 53,816 shares of the information technology services provider's stock worth $454,000 after buying an additional 1,486 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Xerox by 1.9% during the fourth quarter. Franklin Resources Inc. now owns 95,012 shares of the information technology services provider's stock valued at $801,000 after acquiring an additional 1,733 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Xerox by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,209 shares of the information technology services provider's stock valued at $558,000 after acquiring an additional 2,320 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Xerox by 3.0% during the fourth quarter. Russell Investments Group Ltd. now owns 87,466 shares of the information technology services provider's stock valued at $737,000 after acquiring an additional 2,534 shares during the period. Finally, Picton Mahoney Asset Management lifted its position in Xerox by 330.5% during the 4th quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 2,885 shares during the period. 85.36% of the stock is currently 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.