Xerox (NYSE:XRX) Trading Down 8.2% - Here's What Happened

Xerox Holdings Co. (NYSE:XRX - Get Free Report) shares were down 8.2% during trading on Thursday . The company traded as low as $6.13 and last traded at $6.11. Approximately 2,086,424 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 3,984,914 shares. The stock had previously closed at $6.65.

Xerox Price Performance

The stock has a market capitalization of $745.93 million, a P/E ratio of -0.55 and a beta of 1.82. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The stock has a 50-day simple moving average of $5.24 and a 200 day simple moving average of $6.03.

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

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.025 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.10 dividend on an annualized basis and a yield of 1.69%. Xerox's payout ratio is -0.95%.

Insider Buying and Selling

In related news, COO John G. Bruno purchased 25,000 shares of Xerox stock in a transaction dated Friday, May 23rd. The shares were acquired at an average cost of $4.38 per share, for a total transaction of $109,500.00. Following the transaction, the chief operating officer directly owned 259,775 shares of the company's stock, valued at approximately $1,137,814.50. This trade represents a 10.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director A. Scott Letier purchased 25,000 shares of Xerox stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $4.43 per share, for a total transaction of $110,750.00. Following the completion of the transaction, the director directly owned 29,384 shares in the company, valued at $130,171.12. The trade was a 570.26% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 82,300 shares of company stock valued at $364,254 over the last 90 days. Company insiders own 1.50% of the company's stock.

Institutional Trading of Xerox

Several hedge funds have recently added to or reduced their stakes in XRX. SummerHaven Investment Management LLC raised its stake in shares of Xerox by 4.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 75,528 shares of the information technology services provider's stock valued at $398,000 after purchasing an additional 3,399 shares during the period. Sound Income Strategies LLC raised its stake in shares of Xerox by 3.9% in the 2nd quarter. Sound Income Strategies LLC now owns 1,168,559 shares of the information technology services provider's stock valued at $6,158,000 after purchasing an additional 44,241 shares during the period. Sage Rhino Capital LLC acquired a new stake in shares of Xerox in the 2nd quarter valued at about $55,000. Signaturefd LLC raised its stake in shares of Xerox by 330.5% in the 2nd quarter. Signaturefd LLC now owns 10,658 shares of the information technology services provider's stock valued at $56,000 after purchasing an additional 8,182 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of Xerox by 8.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 69,691 shares of the information technology services provider's stock valued at $366,000 after purchasing an additional 5,569 shares during the period. Institutional investors and hedge funds 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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