Xerox (NYSE:XRX) Shares Gap Down - Should You Sell?

Xerox Holdings Co. (NYSE:XRX - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $5.12, but opened at $4.54. Xerox shares last traded at $4.46, with a volume of 2,296,712 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Xerox from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $9.50.

Xerox Price Performance

The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84. The stock has a market capitalization of $547.82 million, a price-to-earnings ratio of -0.40 and a beta of 1.75. The stock's 50 day simple moving average is $4.77 and its 200-day simple moving average is $7.10.

Xerox (NYSE:XRX - Get Free Report) last posted its earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS. On average, analysts expect that Xerox Holdings Co. will post 1.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Xerox

A number of large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its position in Xerox by 110.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider's stock worth $27,000 after acquiring an additional 2,911 shares during the last quarter. Allworth Financial LP lifted its position in Xerox by 137.7% during the 1st quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 3,484 shares during the last quarter. Picton Mahoney Asset Management lifted its position in Xerox by 330.5% during the 4th quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 2,885 shares during the last quarter. Larson Financial Group LLC increased its position in Xerox by 331.8% in the 1st quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider's stock worth $31,000 after buying an additional 5,000 shares during the period. Finally, GAMMA Investing LLC increased its position in Xerox by 569.7% in the 1st quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider's stock worth $34,000 after buying an additional 5,993 shares during the period. Institutional investors own 85.36% of the company's stock.

About Xerox

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.

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