Xerox (NASDAQ:XRX) Shares Cross Above 200-Day Moving Average – What’s Next?

Xerox Holdings Co. (NASDAQ:XRX) passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $2.74 and traded as high as $2.76. Xerox shares last traded at $2.71, with a volume of 1,735,172 shares.

Wall Street Analyst Weigh In

XRX has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xerox in a report on Friday, July 24th. Citigroup lowered shares of Xerox from a “neutral” rating to a “sell” rating and dropped their price target for the company from $3.45 to $2.50 in a research report on Thursday, October 8th. Noble Financial assumed coverage on shares of Xerox in a report on Tuesday, August 18th. They set an “outperform” rating and a $5.00 price target on the stock. Finally, Needham & Company LLC set a $5.00 price objective on shares of Xerox in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $4.17.

Xerox Stock Down 4.9%

The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 12.58. The company has a market capitalization of $354.56 million, a PE ratio of -0.37 and a beta of 2.45. The stock has a 50-day moving average of $3.15 and a 200 day moving average of $2.75.

Xerox (NASDAQ:XRX) last issued its quarterly earnings results on Thursday, July 30th. The information technology services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.32. Xerox had a positive return on equity of 17.61% and a negative net margin of 11.93%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the company posted ($0.64) earnings per share. Xerox’s quarterly revenue was up 22.0% compared to the same quarter last year. Sell-side analysts anticipate that Xerox Holdings Co. will post 0.17 EPS for the current year.

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.0250 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.10 annualized dividend and a dividend yield of 3.7%. Xerox’s dividend payout ratio (DPR) is currently -1.36%.

Institutional Investors Weigh In On Xerox

A number of hedge funds have recently made changes to their positions in the business. BRC Group Holdings Inc. bought a new position in Xerox during the second quarter valued at about $35,013,000. Paradigm Capital Management Inc. NY bought a new stake in Xerox in the second quarter worth about $5,626,000. Squarepoint Ops LLC raised its position in Xerox by 0.6% in the second quarter. Squarepoint Ops LLC now owns 584,825 shares of the information technology services provider’s stock worth $1,831,000 after acquiring an additional 3,689 shares during the period. Bank of New York Mellon Corp purchased a new position in Xerox in the second quarter valued at about $1,313,000. Finally, Renaissance Technologies LLC boosted its stake in Xerox by 926.4% in the first quarter. Renaissance Technologies LLC now owns 645,624 shares of the information technology services provider’s stock valued at $833,000 after acquiring an additional 582,724 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

About Xerox

Xerox Holdings Corporation (NASDAQ: XRX) is a technology company that provides workplace technology, document management and business process services. Its offerings include office printers and multifunction devices, production printing systems, digital document solutions, workflow automation, and related software and services.

The company also provides managed print services, IT services and digital workplace solutions designed to help organizations manage communications, documents and work processes.