Xerox (NYSE:XRX) Trading Up 8.5% - Should You Buy?

Xerox Holdings Co. (NYSE:XRX - Get Free Report) shares were up 8.5% during mid-day trading on Tuesday . The company traded as high as $5.60 and last traded at $5.72. Approximately 850,712 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 3,098,956 shares. The stock had previously closed at $5.27.

Xerox Stock Down 2.3%

The firm has a market capitalization of $706.31 million, a price-to-earnings ratio of -0.52 and a beta of 1.82. The business has a 50 day simple moving average of $5.19 and a 200-day simple moving average of $6.37. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11.

Xerox (NYSE:XRX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) earnings per share 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 company's quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. On average, equities analysts expect that Xerox Holdings Co. will post 1.07 EPS for the current year.

Xerox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Monday, June 30th. Xerox's dividend payout ratio is presently -0.95%.

Insiders Place Their Bets

In other Xerox news, Director A. Scott Letier purchased 25,000 shares of the stock in a transaction dated Friday, May 23rd. The stock was acquired at an average cost of $4.43 per share, for a total transaction of $110,750.00. Following the acquisition, the director owned 29,384 shares in the company, valued at $130,171.12. This trade represents a 570.26% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John G. Bruno purchased 25,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were acquired at an average price of $4.38 per share, with a total value of $109,500.00. Following the completion of the acquisition, the chief operating officer owned 259,775 shares in the company, valued at approximately $1,137,814.50. This trade represents a 10.65% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 82,300 shares of company stock valued at $364,254. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Xerox

A number of hedge funds and other institutional investors have recently bought and sold shares of XRX. Federated Hermes Inc. boosted its holdings in 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 valued at $17,784,000 after acquiring an additional 3,509,574 shares during the period. Paradigm Capital Management Inc. NY boosted its holdings in Xerox by 2,392.4% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,246,200 shares of the information technology services provider's stock valued at $6,019,000 after acquiring an additional 1,196,200 shares during the period. Marshall Wace LLP raised its position in Xerox by 397.5% in the 4th quarter. Marshall Wace LLP now owns 1,378,215 shares of the information technology services provider's stock valued at $11,618,000 after purchasing an additional 1,101,171 shares in the last quarter. Point72 Asset Management L.P. raised its position in Xerox by 2,846.8% in the 4th quarter. Point72 Asset Management L.P. now owns 1,128,973 shares of the information technology services provider's stock valued at $9,517,000 after purchasing an additional 1,090,661 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Xerox in the 1st quarter valued at about $4,765,000. 85.36% of the stock is currently 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.