Xerox (NASDAQ:XRX) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Xerox Holdings Co. (NASDAQ:XRX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.30 and traded as high as $2.64. Xerox shares last traded at $2.61, with a volume of 1,991,997 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xerox in a research note on Monday, April 27th. Zacks Research upgraded 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 stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $2.50.

Xerox Stock Down 1.1%

The stock has a market cap of $337.41 million, a PE ratio of -0.31 and a beta of 2.40. The business has a fifty day moving average of $2.99 and a 200-day moving average of $2.30. The company has a debt-to-equity ratio of 14.04, a current ratio of 1.18 and a quick ratio of 0.85.

Xerox (NASDAQ:XRX) last issued its earnings results on Thursday, April 30th. The information technology services provider reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09. Xerox had a negative return on equity of 12.08% and a negative net margin of 14.09%.The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the company posted ($0.06) EPS. Xerox’s revenue was up 26.7% on a year-over-year basis. Equities research analysts anticipate that Xerox Holdings Co. will post 0.03 earnings per share for the current year.

Xerox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.025 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.10 annualized dividend and a dividend yield of 3.9%. Xerox’s dividend payout ratio (DPR) is currently -1.20%.

Institutional Trading of Xerox

A number of hedge funds have recently added to or reduced their stakes in XRX. AQR Capital Management LLC increased its position in Xerox by 71.7% during the 1st quarter. AQR Capital Management LLC now owns 345,631 shares of the information technology services provider’s stock valued at $1,661,000 after purchasing an additional 144,280 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Xerox by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,047 shares of the information technology services provider’s stock worth $333,000 after purchasing an additional 2,838 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Xerox by 37.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,575,229 shares of the information technology services provider’s stock valued at $7,608,000 after purchasing an additional 431,349 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Xerox by 2.1% during the first quarter. Empowered Funds LLC now owns 619,381 shares of the information technology services provider’s stock valued at $2,992,000 after purchasing an additional 12,633 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Xerox by 9.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,018 shares of the information technology services provider’s stock valued at $2,898,000 after buying an additional 50,467 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.