Xerox (NYSE:XRX) Sets New 12-Month Low – Here’s Why

Xerox Holdings Co. (NYSE:XRX) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $4.75 and last traded at $4.77, with a volume of 1346312 shares traded. The stock had previously closed at $5.01.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $9.50.

Xerox Price Performance

The stock’s 50 day moving average price is $7.14 and its two-hundred day moving average price is $8.54. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The firm has a market capitalization of $616.38 million, a price-to-earnings ratio of -0.46 and a beta of 1.66.

Xerox Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 10.16%. The ex-dividend date of this dividend is Monday, March 31st. Xerox’s payout ratio is -4.66%.

Institutional Investors Weigh In On Xerox

Several hedge funds have recently modified their holdings of XRX. Marshall Wace LLP raised its position in Xerox by 397.5% in the fourth quarter. Marshall Wace LLP now owns 1,378,215 shares of the information technology services provider’s stock worth $11,618,000 after purchasing an additional 1,101,171 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Xerox by 2,846.8% during the 4th quarter. Point72 Asset Management L.P. now owns 1,128,973 shares of the information technology services provider’s stock valued at $9,517,000 after acquiring an additional 1,090,661 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Xerox during the 4th quarter worth approximately $4,101,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Xerox in the fourth quarter worth about $3,067,000. Finally, Victory Capital Management Inc. increased its position in shares of Xerox by 164.8% during the fourth quarter. Victory Capital Management Inc. now owns 546,536 shares of the information technology services provider’s stock worth $4,607,000 after acquiring an additional 340,168 shares in the last quarter. 85.36% of the stock is owned by institutional investors.

Xerox Company Profile

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.