Xerox (NASDAQ:XRX) Share Price Passes Above 200 Day Moving Average – Should You 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 $2.30 and traded as high as $2.64. Xerox shares last traded at $2.61, with a volume of 1,991,997 shares.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings reissued 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 equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $2.50.

Xerox Stock Down 1.9%

The firm’s 50 day simple moving average is $2.99 and its 200-day simple moving average is $2.30. 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 stock has a market capitalization of $341.34 million, a price-to-earnings ratio of -0.31 and a beta of 2.40.

Xerox (NASDAQ:XRX) last posted its quarterly earnings data on Thursday, April 30th. The information technology services provider reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.78 billion. Xerox had a negative net margin of 14.09% and a negative return on equity of 12.08%. The company’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) EPS. Equities analysts expect that Xerox Holdings Co. will post 0.03 earnings per share for the current fiscal year.

Xerox Announces Dividend

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 of this dividend is Tuesday, June 30th. This represents a $0.10 annualized dividend and a yield of 3.8%. Xerox’s dividend payout ratio is -1.20%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. S Harris Financial Group LLC bought a new stake in shares of Xerox during the 4th quarter worth approximately $25,000. Captrust Financial Advisors bought a new position in shares of Xerox in the second quarter valued at $58,000. Williams & Novak LLC bought a new position in shares of Xerox in the fourth quarter valued at $27,000. Boothbay Fund Management LLC acquired a new position in Xerox during the third quarter worth $43,000. Finally, Tower Research Capital LLC TRC increased its holdings in Xerox by 189.8% during the second quarter. Tower Research Capital LLC TRC now owns 11,990 shares of the information technology services provider’s stock worth $63,000 after buying an additional 7,852 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Company Profile

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.