Xerox (NYSE:XRX) Sees Strong Trading Volume

Xerox Holdings Co. (NYSE:XRX) shares saw unusually-strong trading volume on Wednesday . Approximately 150,821 shares were traded 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 raised Xerox from a “strong sell” rating to a “hold” rating and set a $24.00 price objective for the company in a research 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 a consensus price target of $47.80.

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

Xerox (NYSE:XRX) last posted its quarterly earnings results on Monday, July 26th. The information technology services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.35 by $0.12. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Xerox had a return on equity of 6.76% and a net margin of 4.13%. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS. As a group, equities analysts anticipate that Xerox Holdings Co. will post 1.84 EPS for the current year.

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

Institutional investors have recently bought and sold shares of the business. Loomis Sayles & Co. L P acquired a new position in Xerox in the 1st quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Xerox in the 1st quarter valued at approximately $31,000. Vectors Research Management LLC grew its stake in shares of Xerox by 60.6% in the 1st quarter. Vectors Research Management LLC now owns 1,325 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 500 shares during the period. West Branch Capital LLC bought a new stake in shares of Xerox in the 2nd quarter valued at approximately $34,000. Finally, BDO Wealth Advisors LLC bought a new stake in shares of Xerox in the 1st quarter valued at approximately $38,000. 82.65% of the stock is owned by hedge funds and other institutional investors.

About Xerox (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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