Xerox (NYSE:XRX) Stock Price Down 4.3% – Should You Sell?

Xerox Holdings Co. (NYSE:XRX) shares traded down 4.3% during mid-day trading on Wednesday . The stock traded as low as $8.83 and last traded at $8.76. 203,364 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 2,376,585 shares. The stock had previously closed at $9.15.

Wall Street Analyst Weigh In

XRX has been the subject of several recent research reports. Morgan Stanley cut their target price on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. decreased their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.50.

Xerox Stock Up 0.6 %

The business’s 50 day moving average is $8.94 and its 200 day moving average is $9.74. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.95 and a current ratio of 1.11. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 8.98 and a beta of 1.59.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.26). The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. Equities analysts expect that Xerox Holdings Co. will post 1.3 earnings per share for the current year.

Hedge Funds Weigh In On Xerox

A number of large investors have recently made changes to their positions in the business. Pacer Advisors Inc. boosted its holdings in shares of Xerox by 33.2% during the third quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock worth $176,140,000 after purchasing an additional 4,228,806 shares during the period. Geode Capital Management LLC raised its holdings in shares of Xerox by 2.3% during the third quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock worth $29,161,000 after acquiring an additional 62,947 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Xerox by 6.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock valued at $17,850,000 after purchasing an additional 107,580 shares during the last quarter. Sound Income Strategies LLC grew its stake in Xerox by 6.7% in the fourth quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider’s stock valued at $9,296,000 after purchasing an additional 69,182 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in Xerox by 9.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock worth $8,269,000 after purchasing an additional 69,183 shares during the last quarter. Institutional investors and hedge funds 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.