Xerox (NYSE:XRX) Sees Unusually-High Trading Volume

Shares of Xerox Holdings Co. (NYSE:XRX) saw an uptick in trading volume on Wednesday . 150,821 shares changed hands during mid-day trading, a decline of 94% from the previous session’s volume of 2,365,601 shares.The stock last traded at $20.80 and had previously closed at $20.59.

Separately, Zacks Investment Research upgraded Xerox from a “strong sell” rating to a “hold” rating and set a $24.00 price target for the company in a report on Tuesday, August 24th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $47.80.

The company has a debt-to-equity ratio of 0.68, a current ratio of 1.92 and a quick ratio of 1.62. The business’s 50-day moving average price is $23.10 and its two-hundred day moving average price is $23.99. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 14.60 and a beta of 1.77.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Monday, July 26th. The information technology services provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.12. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Xerox had a net margin of 4.13% and a return on equity of 6.76%. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. As a group, research analysts predict that Xerox Holdings Co. will post 1.84 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 1st. Investors of record on Thursday, September 30th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, September 29th. This represents a $1.00 dividend on an annualized basis and a yield of 4.80%. Xerox’s dividend payout ratio (DPR) is 70.92%.

A number of large investors have recently made changes to their positions in XRX. FMR LLC grew its stake in shares of Xerox by 358.3% during the first quarter. FMR LLC now owns 1,250,108 shares of the information technology services provider’s stock worth $39,979,000 after buying an additional 977,310 shares during the last quarter. Comerica Bank grew its stake in shares of Xerox by 176.1% during the first quarter. Comerica Bank now owns 96,125 shares of the information technology services provider’s stock worth $2,344,000 after buying an additional 61,311 shares during the last quarter. Texas Permanent School Fund grew its stake in shares of Xerox by 339.7% during the first quarter. Texas Permanent School Fund now owns 124,666 shares of the information technology services provider’s stock worth $3,026,000 after buying an additional 96,313 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Xerox by 14.7% during the first quarter. The Manufacturers Life Insurance Company now owns 187,918 shares of the information technology services provider’s stock worth $4,561,000 after buying an additional 24,046 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Xerox by 370.1% during the first quarter. Victory Capital Management Inc. now owns 165,922 shares of the information technology services provider’s stock worth $4,027,000 after buying an additional 130,628 shares during the last quarter. 82.65% of the stock is currently owned by institutional investors and hedge funds.

Xerox Company Profile (NYSE:XRX)

Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers intelligent workplace services; and digital services that leverage its software capabilities in workflow automation, personalization and communication software, content management solutions, and digitization services.

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