Xerox (NYSE:XRX) Shares Up 8.5% - What's Next?

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

Xerox Price Performance

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 stock's 50-day moving average price is $5.13 and its 200-day moving average price is $6.40. The company has a market capitalization of $723.29 million, a price-to-earnings ratio of -0.54 and a beta of 1.81.

Xerox (NYSE:XRX - Get Free Report) last issued 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 positive return on equity of 7.57% and a negative net margin of 21.24%. The business's revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 EPS. Equities research analysts anticipate that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.10 dividend on an annualized basis and a yield of 1.74%. Xerox's payout ratio is -0.95%.

Insider Activity at Xerox

In other Xerox news, Director A. Scott Letier bought 25,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average price of $4.43 per share, with a total value of $110,750.00. Following the completion of the transaction, the director owned 29,384 shares in the company, valued at approximately $130,171.12. This trade represents a 570.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John G. Bruno bought 25,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $4.38 per share, with a total value of $109,500.00. Following the completion of the purchase, the chief operating officer directly owned 259,775 shares of the company's stock, valued at $1,137,814.50. This represents a 10.65% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 82,300 shares of company stock worth $364,254. Corporate insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Xerox

A number of institutional investors have recently modified their holdings of XRX. Vanguard Group Inc. raised its holdings in shares of Xerox by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider's stock worth $132,888,000 after buying an additional 199,598 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Xerox by 2,035.4% during the first 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 worth $9,982,000 after purchasing an additional 254,474 shares during the period. Invesco Ltd. lifted its holdings in shares of Xerox by 7.7% during the first quarter. Invesco Ltd. now owns 1,836,657 shares of the information technology services provider's stock worth $8,871,000 after purchasing an additional 130,571 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Xerox by 37.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,575,229 shares of the information technology services provider's stock worth $7,608,000 after purchasing an additional 431,349 shares during the last quarter. Institutional investors own 85.36% of the company's stock.

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.