Xerox (NASDAQ:XRX) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Xerox Holdings Co. (NASDAQ:XRX) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.22 and traded as high as $3.44. Xerox shares last traded at $3.24, with a volume of 3,330,950 shares traded.

Wall Street Analysts Forecast Growth

XRX has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xerox in a research note on Monday, April 27th. Zacks Research upgraded shares of Xerox from a “strong sell” rating to a “hold” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $2.50.

Xerox Price Performance

The stock has a market capitalization of $453.81 million, a price-to-earnings ratio of -0.42 and a beta of 2.40. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 14.04. The stock has a fifty day moving average of $2.35 and a 200-day moving average of $2.24.

Xerox (NASDAQ:XRX) last released its quarterly earnings data on Thursday, April 30th. The information technology services provider reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09. Xerox had a negative net margin of 14.09% and a negative return on equity of 12.08%. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the company earned ($0.06) earnings per share. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, equities research analysts predict that Xerox Holdings Co. will post 0.03 EPS for the current fiscal year.

Xerox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.025 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.9%. Xerox’s payout ratio is -1.20%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in Xerox by 339.3% in the fourth 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 buying an additional 7,178,915 shares during the last quarter. First Eagle Investment Management LLC purchased a new position in shares of Xerox during the third quarter worth approximately $4,333,000. Charles Schwab Investment Management Inc. increased its holdings 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 acquiring an additional 854,119 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Xerox by 123.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,528,219 shares of the information technology services provider’s stock valued at $5,746,000 after purchasing an additional 843,504 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Xerox by 104.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,585,215 shares of the information technology services provider’s stock valued at $3,900,000 after purchasing an additional 809,861 shares during the last quarter. Hedge funds and other institutional investors 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.