Xerox (NYSE:XRX) Shares Up 5.1% – Time to Buy?

Xerox Holdings Co. (NYSE:XRX) shares traded up 5.1% on Thursday . The stock traded as high as $11.01 and last traded at $11.01. 1,802,746 shares changed hands during trading, a decline of 15% from the average session volume of 2,112,658 shares. The stock had previously closed at $10.48.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Loop Capital decreased their price target on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Finally, Citigroup assumed coverage on Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 price target on the stock. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.75.

Xerox Stock Performance

The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a market capitalization of $1.34 billion, a P/E ratio of -10.28 and a beta of 1.57. The company has a 50-day simple moving average of $10.44 and a two-hundred day simple moving average of $12.34.

Xerox (NYSE:XRX) last issued its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.14). Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the firm posted $0.44 earnings per share. The firm’s quarterly revenue was down 10.0% on a year-over-year basis. As a group, equities analysts forecast that Xerox Holdings Co. will post 1.79 EPS for the current year.

Xerox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 9.27%. Xerox’s payout ratio is presently -95.24%.

Hedge Funds Weigh In On Xerox

A number of hedge funds have recently made changes to their positions in the business. SummerHaven Investment Management LLC grew its holdings in shares of Xerox by 2.4% in the second quarter. SummerHaven Investment Management LLC now owns 47,430 shares of the information technology services provider’s stock valued at $551,000 after purchasing an additional 1,110 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in Xerox by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 98,961 shares of the information technology services provider’s stock worth $1,771,000 after purchasing an additional 1,323 shares during the period. Los Angeles Capital Management LLC lifted its stake in Xerox by 5.9% in the second quarter. Los Angeles Capital Management LLC now owns 23,930 shares of the information technology services provider’s stock worth $278,000 after acquiring an additional 1,327 shares during the period. CWM LLC increased its holdings in Xerox by 155.5% during the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 1,378 shares during the period. Finally, Covestor Ltd grew its position in shares of Xerox by 16.2% in the 1st quarter. Covestor Ltd now owns 10,512 shares of the information technology services provider’s stock worth $188,000 after buying an additional 1,464 shares during the last quarter. 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.