Xerox (NYSE:XRX) Trading 7.5% Higher – Still a Buy?

Xerox Holdings Co. (NYSE:XRX)’s stock price traded up 7.5% on Tuesday . The company traded as high as $9.10 and last traded at $9.04. 465,191 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 2,102,476 shares. The stock had previously closed at $8.41.

Analysts Set New Price Targets

XRX has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley reduced their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.50.

Xerox Stock Up 4.8 %

The company has a 50 day moving average of $8.72 and a 200-day moving average of $10.04. The company has a market capitalization of $1.10 billion, a P/E ratio of -0.80 and a beta of 1.59. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.26). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 earnings per share. As a group, equities analysts anticipate that Xerox Holdings Co. will post 1.12 EPS for the current year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Xerox’s dividend payout ratio is presently -9.06%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gladius Capital Management LP purchased a new stake in shares of Xerox in the third quarter worth $29,000. US Bancorp DE raised its holdings in Xerox by 42.3% in the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after buying an additional 1,888 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Xerox by 938.0% in the third quarter. International Assets Investment Management LLC now owns 8,304 shares of the information technology services provider’s stock worth $800,000 after buying an additional 7,504 shares in the last quarter. Plato Investment Management Ltd lifted its position in Xerox by 45.0% in the 2nd quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock valued at $109,000 after acquiring an additional 2,899 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Xerox by 381.3% in the third quarter. CWM LLC now owns 10,897 shares of the information technology services provider’s stock worth $113,000 after purchasing an additional 8,633 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.