Xerox (NYSE:XRX) Shares Gap Up on Insider Buying Activity

Xerox Holdings Co. (NYSE:XRX - Get Free Report) gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $4.50, but opened at $4.81. Xerox shares last traded at $4.85, with a volume of 1,107,833 shares trading hands.

Specifically, CFO Mirlanda Gecaj bought 10,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average cost of $4.41 per share, for a total transaction of $44,100.00. Following the acquisition, the chief financial officer now directly owns 15,956 shares of the company's stock, valued at $70,365.96. This trade represents a 167.90% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director A. Scott Letier bought 25,000 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was purchased at an average price of $4.43 per share, with a total value of $110,750.00. Following the completion of the acquisition, the director now owns 29,384 shares of the company's stock, valued at approximately $130,171.12. This trade represents a 570.26% increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, CEO Steven John Bandrowczak bought 22,300 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was bought at an average cost of $4.48 per share, for a total transaction of $99,904.00. Following the completion of the acquisition, the chief executive officer now directly owns 382,442 shares in the company, valued at $1,713,340.16. This represents a 6.19% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Xerox from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $9.50.

Xerox Stock Performance

The firm's fifty day simple moving average is $4.67 and its 200 day simple moving average is $6.94. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84. The company has a market capitalization of $610.08 million, a price-to-earnings ratio of -0.45 and a beta of 1.75.

Xerox (NYSE:XRX - Get Free Report) last posted its quarterly 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%. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 earnings per share. On average, sell-side analysts forecast that Xerox Holdings Co. will post 1.07 EPS for the current year.

Institutional Trading of Xerox

A number of hedge funds have recently made changes to their positions in the stock. Strs Ohio purchased a new stake in shares of Xerox in the first quarter worth approximately $479,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Xerox by 9.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,018 shares of the information technology services provider's stock valued at $2,898,000 after acquiring an additional 50,467 shares in the last quarter. Empowered Funds LLC raised its position in Xerox by 2.1% during the first quarter. Empowered Funds LLC now owns 619,381 shares of the information technology services provider's stock valued at $2,992,000 after acquiring an additional 12,633 shares in the last quarter. Caxton Associates LLP bought a new position in Xerox during the first quarter valued at approximately $2,363,000. Finally, Goldman Sachs Group Inc. raised its position in Xerox by 37.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,575,229 shares of the information technology services provider's stock valued at $7,608,000 after acquiring an additional 431,349 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.