Xerox Holdings Co. (NYSE:XRX) Director A. Scott Letier Purchases 25,000 Shares

Xerox Holdings Co. (NYSE:XRX) Director A. Scott Letier acquired 25,000 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was acquired at an average cost of $4.43 per share, for a total transaction of $110,750.00. Following the completion of the purchase, the director now directly owns 29,384 shares of the company’s stock, valued at approximately $130,171.12. This represents a 570.26% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Xerox Stock Up 7.8%

XRX opened at $4.84 on Wednesday. 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 company’s 50-day moving average is $4.70 and its 200 day moving average is $7.01. Xerox Holdings Co. has a fifty-two week low of $3.45 and a fifty-two week high of $14.81. The firm has a market capitalization of $608.82 million, a P/E ratio of -0.45 and a beta of 1.75.

Xerox (NYSE:XRX) last released its quarterly earnings results 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 for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. Research analysts expect that Xerox Holdings Co. will post 1.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, Xerox currently has a consensus rating of “Reduce” and an average price target of $9.50.

Institutional Trading of Xerox

Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in Xerox by 110.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 2,911 shares during the period. Allworth Financial LP raised its position in 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. Picton Mahoney Asset Management increased its stake in shares of Xerox by 330.5% in the fourth quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 2,885 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of 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 purchasing an additional 5,000 shares in the last quarter. Finally, GAMMA Investing LLC increased 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 purchasing an additional 5,993 shares in 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.