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

Xerox Holdings Co. (NASDAQ:XRX) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.29 and traded as high as $2.81. Xerox shares last traded at $2.70, with a volume of 1,545,772 shares trading hands.

Wall Street Analysts Forecast Growth

XRX has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Xerox in a research note on Monday, April 27th. Zacks Research raised Xerox from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $2.50.

Xerox Price Performance

The stock has a market capitalization of $353.11 million, a PE ratio of -0.32 and a beta of 2.40. The firm’s fifty day moving average price is $2.98 and its two-hundred day moving average price is $2.29. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 14.04.

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

Xerox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, June 30th. Xerox’s dividend payout ratio (DPR) is -1.20%.

Institutional Trading of Xerox

A number of hedge funds have recently bought and sold shares of the company. S Harris Financial Group LLC bought a new position in Xerox in the fourth quarter valued at about $25,000. Chicago Partners Investment Group LLC purchased a new position in Xerox in the first quarter worth about $25,000. Captrust Financial Advisors bought a new stake in shares of Xerox during the 4th quarter valued at about $26,000. Williams & Novak LLC purchased a new stake in shares of Xerox during the 4th quarter valued at about $27,000. Finally, Arkadios Wealth Advisors purchased a new stake in shares of Xerox during the 4th quarter valued at about $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.