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

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 $2.25 and traded as high as $3.21. Xerox shares last traded at $3.02, with a volume of 5,861,484 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Zacks Research upgraded shares of Xerox from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xerox in a research note on Monday, April 27th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $2.50.

Xerox Stock Performance

The firm has a market cap of $394.96 million, a PE ratio of -0.36 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 company has a 50-day simple moving average of $2.54 and a two-hundred day simple moving average of $2.25.

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

Xerox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors 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 annualized dividend and a yield of 3.3%. Xerox’s dividend payout ratio is presently -1.20%.

Institutional Trading of Xerox

Several hedge funds have recently added to or reduced their stakes in XRX. S Harris Financial Group LLC bought a new position in shares of Xerox during the 4th quarter valued at approximately $25,000. Chicago Partners Investment Group LLC bought a new stake in shares of Xerox in the 1st quarter worth approximately $25,000. Captrust Financial Advisors purchased a new position in Xerox in the fourth quarter valued at approximately $26,000. Williams & Novak LLC bought a new position in Xerox during the fourth quarter valued at $27,000. Finally, Arkadios Wealth Advisors bought a new position in Xerox during the fourth quarter valued at $35,000. 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.