Xerox (NYSE:XRX) Shares Up 9.7% - Here's What Happened

Xerox Holdings Co. (NYSE:XRX - Get Free Report)'s stock price traded up 9.7% during trading on Tuesday . The stock traded as high as $5.66 and last traded at $5.71. 2,501,447 shares were traded during trading, a decline of 21% from the average session volume of 3,174,154 shares. The stock had previously closed at $5.20.

Xerox Trading Up 2.5%

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 stock has a market capitalization of $764.80 million, a P/E ratio of -0.57 and a beta of 1.82. The firm's 50 day moving average price is $5.28 and its 200 day moving average price is $6.00.

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

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Monday, June 30th. Xerox's dividend payout ratio (DPR) is currently -0.95%.

Insider Activity at Xerox

In related news, Director A. Scott Letier bought 25,000 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were purchased at an average price of $4.43 per share, with a total value of $110,750.00. Following the purchase, the director owned 29,384 shares of the company's stock, valued at approximately $130,171.12. This trade represents a 570.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mirlanda Gecaj purchased 10,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average cost of $4.41 per share, with a total value of $44,100.00. Following the completion of the purchase, the chief financial officer owned 15,956 shares of the company's stock, valued at $70,365.96. This represents a 167.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 82,300 shares of company stock valued at $364,254 in the last 90 days. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Xerox

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position 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. Allworth Financial LP raised its stake in Xerox by 137.7% during the first quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider's stock valued at $29,000 after buying an additional 3,484 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Xerox by 331.8% in the first quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 5,000 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Xerox by 569.7% in the first quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 5,993 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Xerox in the second quarter worth $34,000. 85.36% of the stock is currently owned by 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.