Xerox (NASDAQ:XRX) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Xerox Holdings Co. (NASDAQ:XRX) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.27 and traded as high as $3.33. Xerox shares last traded at $3.31, with a volume of 7,752,274 shares changing hands.

Analyst Upgrades and Downgrades

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

Xerox Trading Up 2.8%

The firm has a market capitalization of $432.88 million, a P/E ratio of -0.40 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 firm has a 50 day moving average of $2.72 and a 200-day moving average of $2.27.

Xerox (NASDAQ:XRX) last announced its quarterly earnings data on Thursday, April 30th. The information technology services provider reported ($0.11) earnings per share 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 analysts’ expectations of $1.78 billion. Xerox had a negative return on equity of 12.08% and a negative net margin of 14.09%.The company’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.06) EPS. On average, equities research analysts predict that Xerox Holdings Co. will post 0.03 earnings per share for the current fiscal year.

Xerox Announces Dividend

The company also recently disclosed 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 3.0%. Xerox’s dividend payout ratio is currently -1.20%.

Institutional Trading of Xerox

Institutional investors and hedge funds have recently made changes to their positions in the company. S Harris Financial Group LLC acquired a new stake in shares of Xerox during the 4th quarter worth approximately $25,000. Chicago Partners Investment Group LLC bought a new position in Xerox in the first quarter valued at approximately $25,000. Captrust Financial Advisors acquired a new position in Xerox during the fourth quarter valued at approximately $26,000. Williams & Novak LLC bought a new stake in Xerox during the fourth quarter worth $27,000. Finally, Arkadios Wealth Advisors bought a new stake in Xerox during the fourth quarter worth $35,000. Institutional investors 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.