Xerox (NYSE:XRX) Trading Up 7.4% - Here's Why

Xerox Holdings Co. (NYSE:XRX - Get Free Report) rose 7.4% on Tuesday . The company traded as high as $5.68 and last traded at $5.73. Approximately 596,216 shares were traded during trading, a decline of 80% from the average daily volume of 3,027,021 shares. The stock had previously closed at $5.33.

Xerox Stock Down 3.4%

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 business has a fifty day simple moving average of $4.78 and a two-hundred day simple moving average of $6.70. The company has a market capitalization of $649.08 million, a price-to-earnings ratio of -0.48 and a beta of 1.81.

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 analysts' consensus estimates of ($0.03) by ($0.03). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. The firm's revenue was down 3.0% on a year-over-year basis. During the same period last year, the company earned $0.06 EPS. Equities analysts expect that Xerox Holdings Co. will post 1.07 EPS for the current year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Monday, June 30th. Xerox's dividend payout ratio (DPR) is presently -0.95%.

Insider Buying and Selling

In other Xerox news, CEO Steven John Bandrowczak bought 22,300 shares of the company's stock in a transaction on Friday, May 23rd. The stock was bought at an average price of $4.48 per share, for a total transaction of $99,904.00. Following the transaction, the chief executive officer now owns 382,442 shares of the company's stock, valued at approximately $1,713,340.16. The trade was a 6.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director A. Scott Letier bought 25,000 shares of the company's stock in a transaction on Friday, May 23rd. The shares were acquired at an average price of $4.43 per share, with a total value of $110,750.00. Following the transaction, the director now directly owns 29,384 shares in the company, valued at approximately $130,171.12. The trade was a 570.26% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 82,300 shares of company stock worth $364,254 in the last quarter. Insiders own 0.30% of the company's stock.

Institutional Trading of Xerox

Several institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased 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 valued at $27,000 after buying an additional 2,911 shares in the last quarter. Allworth Financial LP increased its position in shares of Xerox by 137.7% in the 1st 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 in the last quarter. Picton Mahoney Asset Management increased its position in shares of Xerox by 330.5% in the 4th quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider's stock valued at $31,000 after buying an additional 2,885 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Xerox by 331.8% in the 1st quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider's stock valued at $31,000 after buying an additional 5,000 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Xerox by 569.7% in the 1st quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider's stock valued at $34,000 after buying an additional 5,993 shares in the last quarter. Institutional investors own 85.36% of the company's stock.

About Xerox

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.