Xerox (NYSE:XRX) Reaches New 1-Year Low – Here’s Why

Xerox Holdings Co. (NYSE:XRX) reached a new 52-week low during trading on Tuesday . The company traded as low as $5.62 and last traded at $5.77, with a volume of 4291014 shares changing hands. The stock had previously closed at $5.79.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $9.50.

Xerox Price Performance

The stock has a market cap of $722.87 million, a PE ratio of -0.54 and a beta of 1.66. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The company’s 50 day moving average is $7.95 and its 200-day moving average is $8.94.

Xerox Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 8.67%. The ex-dividend date is Monday, March 31st. Xerox’s dividend payout ratio is currently -4.66%.

Institutional Trading of Xerox

Several large investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its position in Xerox by 33.2% in the third quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock worth $176,140,000 after acquiring an additional 4,228,806 shares in the last quarter. Vanguard Group Inc. increased its holdings in Xerox by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider’s stock worth $132,888,000 after buying an additional 199,598 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Xerox by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock valued at $29,161,000 after purchasing an additional 62,947 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Xerox by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider’s stock valued at $15,276,000 after acquiring an additional 92,495 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Xerox by 5.9% in the 4th quarter. Invesco Ltd. now owns 1,706,086 shares of the information technology services provider’s stock valued at $14,382,000 after acquiring an additional 94,779 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.