Xerox (NASDAQ:XRX) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Xerox Holdings Co. (NASDAQ:XRX) shares crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $2.61 and traded as high as $3.51. Xerox shares last traded at $3.32, with a volume of 1,865,531 shares traded.

Wall Street Analyst Weigh In

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

Xerox Price 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 company’s fifty day moving average price is $3.11 and its 200 day moving average price is $2.61. The firm has a market capitalization of $435.98 million, a price-to-earnings ratio of -0.45 and a beta of 2.42.

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

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.0250 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, September 30th. Xerox’s dividend payout ratio is -1.36%.

Hedge Funds Weigh In On Xerox

Several institutional investors and hedge funds have recently bought and sold shares of XRX. Integrated Wealth Concepts LLC bought a new position in shares of Xerox in the second quarter valued at approximately $28,000. Squarepoint Ops LLC grew its position in Xerox by 0.6% in the 2nd quarter. Squarepoint Ops LLC now owns 584,825 shares of the information technology services provider’s stock worth $1,831,000 after purchasing an additional 3,689 shares during the last quarter. Odyssean LLC increased its stake in Xerox by 522.0% during the second quarter. Odyssean LLC now owns 203,988 shares of the information technology services provider’s stock valued at $638,000 after acquiring an additional 171,192 shares during the period. AXQ Capital LP bought a new stake in shares of Xerox during the second quarter valued at approximately $446,000. Finally, Headlands Technologies LLC bought a new stake in Xerox in the 2nd quarter valued at $779,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Xerox Company Profile

Xerox Holdings Corporation (NASDAQ:XRX) is a workplace technology and document management company that provides hardware, software and services for managing information and business processes. Its offerings include office printers, multifunction printers, production printers, digital printing systems and related supplies and support services.

The company also provides managed print services, document workflow solutions, content management tools and information technology services. These offerings are designed to help organizations digitize documents, automate workflows, improve communications and manage printing and other workplace processes.

Xerox traces its origins to the Haloid Company, founded in 1906.