Xerox (NYSE:XRX) Hits New 12-Month Low – What’s Next?

Xerox Holdings Co. (NYSE:XRX)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $5.41 and last traded at $5.45, with a volume of 764189 shares. The stock had previously closed at $5.51.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered 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 assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $9.50.

Xerox Stock Down 4.0 %

The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The firm has a market cap of $658.98 million, a price-to-earnings ratio of -0.49 and a beta of 1.66. The business’s 50 day moving average price is $7.55 and its 200 day moving average price is $8.72.

Xerox Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.125 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a yield of 9.51%. 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 increased its stake in shares of Xerox by 397.5% in the 4th quarter. Marshall Wace LLP now owns 1,378,215 shares of the information technology services provider’s stock valued at $11,618,000 after purchasing an additional 1,101,171 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Xerox by 2,846.8% in the fourth 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 buying an additional 1,090,661 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Xerox during the 4th quarter worth approximately $4,101,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Xerox during the 4th quarter valued at approximately $3,067,000. Finally, Victory Capital Management Inc. grew its stake in Xerox by 164.8% in the 4th quarter. Victory Capital Management Inc. now owns 546,536 shares of the information technology services provider’s stock valued at $4,607,000 after acquiring an additional 340,168 shares during the period. 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.