Xerox (NYSE:XRX) Stock Price Down 6.1% - Here's What Happened

Key Points

• Xerox Holdings Co. saw its stock price decline by 6.1% during mid-day trading, with the last traded price at $4.09, significantly below its previous closing of $4.35.
• The company reported negative earnings of ($0.64) per share for the last quarter, missing the consensus estimate by ($0.71), with a negative net margin of 21.24% and a revenue decline of 0.1% year-over-year.
• Xerox declared a quarterly dividend of $0.025 per share, with an annualized yield of 2.4%, set to be paid on October 31st for investors of record on September 30th.

Xerox Holdings Co. (NYSE:XRX - Get Free Report)'s stock price was down 6.1% during mid-day trading on Thursday . The company traded as low as $4.08 and last traded at $4.09. Approximately 803,842 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 4,044,404 shares. The stock had previously closed at $4.35.

Xerox Stock Down 5.9%

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 has a 50-day simple moving average of $5.16 and a 200-day simple moving average of $5.58. The firm has a market capitalization of $515.11 million, a PE ratio of -0.38 and a beta of 1.79.

Xerox (NYSE:XRX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.71). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. The firm's revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 earnings per share. Analysts forecast that Xerox Holdings Co. will post 1.07 EPS for the current year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, September 30th. Xerox's payout ratio is presently -0.87%.

Insiders Place Their Bets

In other news, Director A. Scott Letier acquired 29,600 shares of Xerox stock in a transaction dated Friday, August 1st. The shares were purchased at an average cost of $3.95 per share, for a total transaction of $116,920.00. Following the transaction, the director owned 58,984 shares of the company's stock, valued at $232,986.80. This trade represents a 100.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Steven John Bandrowczak bought 22,300 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average price of $4.48 per share, with a total value of $99,904.00. Following the completion of the acquisition, the chief executive officer directly owned 382,442 shares in the company, valued at $1,713,340.16. This trade represents a 6.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 117,079 shares of company stock valued at $502,045 in the last ninety days. Corporate insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its holdings in shares of Xerox by 110.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 2,911 shares in the last quarter. Spire Wealth Management bought a new stake in shares of Xerox in the second quarter worth $31,000. TD Waterhouse Canada Inc. bought a new stake in shares of Xerox in the fourth quarter worth $51,000. Allworth Financial LP grew its holdings in shares of Xerox by 137.7% in the first quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 3,484 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Xerox in the second quarter worth $34,000. 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.

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