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

Shares of Xerox Holdings Co. (NASDAQ:XRX) crossed 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 traded.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on XRX. Zacks Research upgraded Xerox from a “strong sell” rating to a “hold” rating in a report on Thursday, April 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Xerox in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Xerox currently has a consensus rating of “Reduce” and an average target price of $2.50.

Xerox Stock Performance

The company has a market capitalization of $394.96 million, a price-to-earnings ratio of -0.36 and a beta of 2.40. The stock’s 50 day moving average price is $2.50 and its 200 day moving average price is $2.25. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 14.04.

Xerox (NASDAQ:XRX) last released its earnings results on Thursday, April 30th. The information technology services provider reported ($0.11) earnings per share (EPS) 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 business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the business earned ($0.06) earnings per share. Xerox’s quarterly revenue was up 26.7% on a year-over-year basis. Analysts expect 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. Shareholders of record on Tuesday, June 30th will be given 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 3.3%. Xerox’s payout ratio is -1.20%.

Institutional Investors Weigh In On Xerox

Large investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC acquired a new position in Xerox during the third quarter worth approximately $4,333,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Xerox in the third quarter valued at approximately $1,629,000. JPMorgan Chase & Co. boosted its stake in shares of Xerox by 92.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,392,028 shares of the information technology services provider’s stock worth $5,234,000 after acquiring an additional 669,810 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Xerox by 104.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,585,215 shares of the information technology services provider’s stock worth $3,900,000 after acquiring an additional 809,861 shares during the period. Finally, BW Gestao de Investimentos Ltda. acquired a new position in shares of Xerox in the fourth quarter valued at $1,659,000. Institutional investors and hedge funds 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.