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

Shares of Xerox Holdings Co. (NYSE:XRX) shot up 5.1% during trading on Thursday . The company 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 Upgrades and Downgrades

A number of brokerages have commented on XRX. Citigroup began coverage on shares of Xerox in a research note on Friday, June 28th. They set a “sell” rating and a $11.00 price target for the company. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Finally, Loop Capital reduced their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.75.

Xerox Stock Up 5.6 %

The stock’s fifty day moving average is $10.40 and its two-hundred day moving average is $12.40. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $1.38 billion, a PE ratio of -10.03 and a beta of 1.57.

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

Xerox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.03%. The ex-dividend date is Monday, September 30th. Xerox’s dividend payout ratio (DPR) is currently -95.24%.

Institutional Investors Weigh In On Xerox

Several institutional investors have recently added to or reduced their stakes in XRX. CWM LLC lifted its holdings in shares of Xerox by 155.5% in the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after buying an additional 1,378 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Xerox in the first quarter worth about $45,000. Plato Investment Management Ltd purchased a new stake in shares of Xerox in the first quarter worth about $115,000. nVerses Capital LLC bought a new position in shares of Xerox in the second quarter worth approximately $78,000. Finally, Innealta Capital LLC bought a new position in shares of Xerox in the second quarter worth approximately $115,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.