Xerox (NASDAQ:XRX) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Xerox Holdings Co. (NASDAQ:XRX)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $2.80 and traded as high as $2.81. Xerox shares last traded at $2.74, with a volume of 2,782,329 shares traded.

Analyst Ratings Changes

Several analysts have weighed in on the company. Needham & Company LLC set a $5.00 price target on Xerox in a research note on Tuesday, August 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Xerox in a research report on Thursday. Noble Financial started coverage on Xerox in a report on Tuesday, August 18th. They set an “outperform” rating and a $5.00 target price for the company. Finally, Citigroup lowered Xerox from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $3.45 to $2.50 in a research note on Thursday, October 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $4.17.

Xerox Price Performance

The firm has a market capitalization of $336.18 million, a price-to-earnings ratio of -0.35 and a beta of 2.45. The company has a fifty day moving average price of $3.07 and a two-hundred day moving average price of $2.81. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 12.58.

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

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be issued a $0.0250 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.10 dividend on an annualized basis and a yield of 3.9%. Xerox’s dividend payout ratio (DPR) is -1.36%.

Hedge Funds Weigh In On Xerox

Hedge funds have recently bought and sold shares of the company. Paradigm Capital Management Inc. NY acquired a new position in shares of Xerox during the 2nd quarter worth approximately $5,626,000. Renaissance Technologies LLC increased its position in Xerox by 926.4% during the 1st quarter. Renaissance Technologies LLC now owns 645,624 shares of the information technology services provider’s stock worth $833,000 after purchasing an additional 582,724 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Xerox in the 2nd quarter valued at $1,313,000. Headlands Technologies LLC purchased a new position in Xerox in the second quarter valued at about $779,000. Finally, Investors Asset Management of Georgia Inc. GA ADV acquired a new position in Xerox during the 3rd quarter worth approximately $607,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Xerox Company Profile

Xerox Holdings Corporation (NASDAQ:XRX) is a technology and workplace solutions company that provides printing, document management and digital services to businesses and other organizations. The company serves customers across a range of industries, including government, education, healthcare, financial services and professional services.

Xerox offers office printers, multifunction devices, production printers and related supplies, software and support services. Its portfolio also includes document workflow and content-management solutions designed to help organizations digitize, automate and manage business processes.