Xerox (NASDAQ:XRX) Shares Pass Above 200-Day Moving Average – Time to Sell?

Xerox Holdings Co. (NASDAQ:XRX) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.48 and traded as high as $3.23. Xerox shares last traded at $3.14, with a volume of 2,769,984 shares.

Analyst Upgrades and Downgrades

XRX has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xerox in a research report on Friday, July 24th. Noble Financial started coverage on shares of Xerox in a research report on Tuesday, August 18th. They issued an “outperform” rating and a $5.00 price objective for the company. Needham & Company LLC set a $5.00 target price on shares of Xerox in a research note on Tuesday, August 18th. Finally, Citigroup restated a “neutral” rating and set a $3.45 target price (up from $2.50) on shares of Xerox in a report on Friday, July 31st. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Xerox has an average rating of “Hold” and an average price target of $4.48.

Xerox Stock Performance

The company has a debt-to-equity ratio of 12.58, a quick ratio of 0.85 and a current ratio of 1.18. The stock has a fifty day simple moving average of $2.96 and a two-hundred day simple moving average of $2.49. The stock has a market cap of $450.43 million, a PE ratio of -0.46 and a beta of 2.42.

Xerox (NASDAQ:XRX) last posted its earnings results on Thursday, July 30th. The information technology services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.32. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Xerox had a negative net margin of 11.93% and a positive return on equity of 17.61%. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.64) earnings per share. Equities analysts anticipate that Xerox Holdings Co. will post 0.17 EPS for the current fiscal year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.025 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.10 annualized dividend and a dividend yield of 2.9%. Xerox’s dividend payout ratio (DPR) is currently -1.36%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in Xerox by 339.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 9,294,446 shares of the information technology services provider’s stock valued at $22,028,000 after purchasing an additional 7,178,915 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Xerox by 32.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,498,232 shares of the information technology services provider’s stock valued at $8,291,000 after purchasing an additional 854,119 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Xerox by 24.4% during the 4th quarter. Geode Capital Management LLC now owns 2,915,580 shares of the information technology services provider’s stock valued at $6,911,000 after buying an additional 571,715 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Xerox by 43.2% during the 3rd quarter. Two Sigma Investments LP now owns 2,476,689 shares of the information technology services provider’s stock valued at $9,312,000 after buying an additional 746,582 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its position in shares of Xerox by 89.4% during the fourth quarter. First Eagle Investment Management LLC now owns 2,182,500 shares of the information technology services provider’s stock worth $5,173,000 after buying an additional 1,030,000 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

About Xerox

Xerox Holdings Corporation (NYSE: XRX) is a global provider of document management technology and services. The company designs and manufactures a broad range of multifunction printers, production printers, digital presses and related consumables. In addition to its hardware offerings, Xerox delivers software and workflow automation solutions, managed print services and cloud-based document platforms that help organizations optimize their information-intensive processes.

Founded in 1906 as The Haloid Photographic Company, Xerox pioneered xerographic imaging in the late 1940s, launching the first plain-paper copier in 1959.