Xerox (NASDAQ:XRX) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of Xerox Holdings Co. (NASDAQ:XRX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.22 and traded as high as $3.44. Xerox shares last traded at $3.24, with a volume of 3,330,950 shares trading hands.

Analysts Set New Price Targets

Several brokerages have weighed in on XRX. Weiss Ratings reiterated 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 research note on Thursday, April 30th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Xerox has a consensus rating of “Reduce” and an average price target of $2.50.

Xerox Stock Down 4.4%

The company has a debt-to-equity ratio of 14.04, a quick ratio of 0.85 and a current ratio of 1.18. The firm has a market capitalization of $423.73 million, a price-to-earnings ratio of -0.39 and a beta of 2.40. The firm has a fifty day moving average price of $2.26 and a 200 day moving average price of $2.22.

Xerox (NASDAQ:XRX) last posted its quarterly 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 firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the business earned ($0.06) earnings per share. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. As a group, sell-side analysts expect that Xerox Holdings Co. will post 0.03 EPS for the current fiscal year.

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, June 30th. Xerox’s dividend payout ratio (DPR) is currently -1.20%.

Hedge Funds Weigh In On Xerox

A number of large investors have recently made changes to their positions in XRX. S Harris Financial Group LLC purchased a new position in shares of Xerox in the 4th quarter valued at about $25,000. Chicago Partners Investment Group LLC purchased a new position in shares of Xerox in the 1st quarter valued at about $25,000. Captrust Financial Advisors purchased a new position in shares of Xerox in the 4th quarter valued at about $26,000. Williams & Novak LLC purchased a new position in shares of Xerox in the 4th quarter valued at about $27,000. Finally, Arkadios Wealth Advisors acquired a new position in Xerox during the fourth quarter worth $35,000. Hedge funds and other 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.