Xerox (NASDAQ:XRX) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Xerox shares rose above their 200-day moving average, trading as high as $3.63 versus the $2.55 average, and last changing hands at $3.62.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $4.48 target price; individual targets range from $3.45 to $5.00.
• Xerox reported stronger-than-expected quarterly results, including $0.38 EPS and $1.92 billion in revenue, while maintaining a quarterly dividend of $0.025 per share.

Xerox Holdings Co. (NASDAQ:XRX - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.55 and traded as high as $3.63. Xerox shares last traded at $3.62, with a volume of 3,671,419 shares changing hands.

Analysts Set New Price Targets

XRX has been the subject of several research reports. Citigroup restated a "neutral" rating and set a $3.45 price objective (up from $2.50) on shares of Xerox in a research report on Friday, July 31st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Xerox in a research report on Friday, July 24th. Noble Financial started coverage on Xerox in a research note on Tuesday, August 18th. They set an "outperform" rating and a $5.00 target price on the stock. Finally, Needham & Company LLC set a $5.00 price target on Xerox in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Xerox presently has a consensus rating of "Hold" and a consensus target price of $4.48.

Xerox Stock Up 4.0%

The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 12.58. The firm has a market cap of $475.38 million, a price-to-earnings ratio of -0.49 and a beta of 2.42. The firm's 50 day simple moving average is $3.03 and its two-hundred day simple moving average is $2.55.

Xerox (NASDAQ:XRX - Get Free Report) last announced its earnings results on Thursday, July 30th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.32. Xerox had a negative net margin of 11.93% and a positive return on equity of 17.61%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the business posted ($0.64) EPS. The business's revenue was up 22.0% compared to the same quarter last year. On average, equities analysts forecast that Xerox Holdings Co. will post 0.17 EPS for the current year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, September 30th. Xerox's dividend payout ratio (DPR) is -1.36%.

Institutional Trading of Xerox

A number of institutional investors have recently modified their holdings of XRX. S Harris Financial Group LLC acquired a new position in shares of Xerox in the 4th quarter valued at approximately $25,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Xerox during the 1st quarter worth approximately $25,000. Integrated Wealth Concepts LLC bought a new position in Xerox in the second quarter valued at approximately $28,000. Great Lakes Advisors LLC bought a new position in Xerox in the second quarter valued at approximately $45,000. Finally, Sei Investments Co. acquired a new position in Xerox during the first quarter valued at approximately $80,000. 85.36% of the stock is currently owned by institutional investors.

About Xerox

Xerox Holdings Corporation NASDAQ: XRX is a workplace technology and document management company that provides hardware, software and services for managing information and business processes. Its offerings include office printers, multifunction printers, production printers, digital printing systems and related supplies and support services.

The company also provides managed print services, document workflow solutions, content management tools and information technology services. These offerings are designed to help organizations digitize documents, automate workflows, improve communications and manage printing and other workplace processes.

Xerox traces its origins to the Haloid Company, founded in 1906.

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