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

Xerox Holdings Co. (NASDAQ:XRX)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Zacks Research upgraded Xerox from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xerox in a research report 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $2.50.

Xerox Stock Down 1.9%

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

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

Xerox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.8%. Xerox’s dividend payout ratio (DPR) is currently -1.20%.

Hedge Funds Weigh In On Xerox

Institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its holdings in Xerox by 339.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 9,294,446 shares of the information technology services provider’s stock worth $22,028,000 after buying an additional 7,178,915 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Xerox by 32.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,498,232 shares of the information technology services provider’s stock valued at $8,291,000 after buying an additional 854,119 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Xerox by 24.4% in the fourth quarter. Geode Capital Management LLC now owns 2,915,580 shares of the information technology services provider’s stock valued at $6,911,000 after buying an additional 571,715 shares during the period. Two Sigma Investments LP increased its position in shares of Xerox by 43.2% during the third quarter. Two Sigma Investments LP now owns 2,476,689 shares of the information technology services provider’s stock worth $9,312,000 after acquiring an additional 746,582 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in shares of Xerox by 89.4% during the fourth quarter. First Eagle Investment Management LLC now owns 2,182,500 shares of the information technology services provider’s stock worth $5,173,000 after acquiring an additional 1,030,000 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.