Xerox (NYSE:XRX) Shares Gap Up After Insider Buying Activity

Xerox Holdings Co. (NYSE:XRX) shares gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $4.50, but opened at $4.81. Xerox shares last traded at $4.85, with a volume of 1,107,833 shares changing hands.

Specifically, CFO Mirlanda Gecaj purchased 10,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were acquired at an average cost of $4.41 per share, for a total transaction of $44,100.00. Following the completion of the transaction, the chief financial officer now directly owns 15,956 shares of the company’s stock, valued at $70,365.96. This trade represents a 167.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director A. Scott Letier acquired 25,000 shares of Xerox stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of $4.43 per share, for a total transaction of $110,750.00. Following the purchase, the director now directly owns 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 disclosure for this purchase can be found here. In other news, CEO Steven John Bandrowczak acquired 22,300 shares of Xerox stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average price of $4.48 per share, with a total value of $99,904.00. Following the completion of the purchase, the chief executive officer now owns 382,442 shares of the company’s stock, valued at approximately $1,713,340.16. This represents a 6.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Ratings Changes

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

Xerox Price Performance

The company’s fifty day moving average price is $4.70 and its 200 day moving average price is $7.01. 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 firm has a market capitalization of $608.82 million, a price-to-earnings 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%. During the same quarter in the prior year, the company earned $0.06 EPS. The company’s revenue was down 3.0% on a year-over-year basis. Equities research analysts expect that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC grew its position in Xerox by 55.5% in the third quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock worth $4,869,000 after acquiring an additional 167,500 shares in the last quarter. KBC Group NV grew its position in Xerox by 84.5% in the fourth quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock worth $78,000 after acquiring an additional 4,224 shares in the last quarter. Yousif Capital Management LLC grew its position in Xerox by 2.8% in the fourth quarter. Yousif Capital Management LLC now owns 53,816 shares of the information technology services provider’s stock worth $454,000 after acquiring an additional 1,486 shares in the last quarter. Vest Financial LLC bought a new stake in Xerox in the fourth quarter worth approximately $97,000. Finally, Empowered Funds LLC grew its position in Xerox by 8.2% in the fourth quarter. Empowered Funds LLC now owns 606,748 shares of the information technology services provider’s stock worth $5,115,000 after acquiring an additional 46,212 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other 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.