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

Xerox Holdings Co. (NASDAQ:XRX)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.27 and traded as high as $3.33. Xerox shares last traded at $3.31, with a volume of 7,752,274 shares trading hands.

Wall Street Analyst Weigh In

XRX has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xerox in a report 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 company. According to MarketBeat, Xerox currently has an average rating of “Reduce” and an average price target of $2.50.

Xerox Stock Performance

The stock’s 50-day moving average price is $2.72 and its 200-day moving average price is $2.27. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 14.04. The company has a market capitalization of $432.88 million, a P/E ratio of -0.40 and a beta of 2.40.

Xerox (NASDAQ:XRX) last announced its quarterly earnings data 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 net margin of 14.09% and a negative return on equity of 12.08%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the firm earned ($0.06) EPS. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. As a group, equities analysts expect that Xerox Holdings Co. will post 0.03 EPS for the current year.

Xerox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.10 annualized dividend and a dividend yield of 3.0%. Xerox’s dividend payout ratio is -1.20%.

Institutional Trading of Xerox

Hedge funds have recently made changes to their positions in the stock. Rangeley Capital LLC bought a new position in Xerox during the 1st quarter worth $129,000. Renaissance Technologies LLC lifted its stake in Xerox by 926.4% in the first quarter. Renaissance Technologies LLC now owns 645,624 shares of the information technology services provider’s stock valued at $833,000 after buying an additional 582,724 shares during the last quarter. Gabelli Funds LLC lifted its stake in Xerox by 17.2% in the first quarter. Gabelli Funds LLC now owns 68,000 shares of the information technology services provider’s stock valued at $88,000 after buying an additional 10,000 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Xerox by 1.8% during the first quarter. Gamco Investors INC. ET AL now owns 564,000 shares of the information technology services provider’s stock valued at $728,000 after acquiring an additional 9,800 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Xerox during the first quarter worth about $80,000. 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.