Xerox (NYSE:XRX) Shares Up 4.9% – Still a Buy?

Xerox Holdings Co. (NYSE:XRX) rose 4.9% during trading on Friday . The stock traded as high as $6.53 and last traded at $6.52. Approximately 624,935 shares changed hands during trading, a decline of 78% from the average daily volume of 2,903,531 shares. The stock had previously closed at $6.22.

Analysts Set New Price Targets

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

Xerox Stock Performance

The firm has a market capitalization of $796.79 million, a price-to-earnings ratio of -0.59 and a beta of 1.66. The company has a fifty day moving average of $8.25 and a two-hundred day moving average of $9.16. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11.

Xerox Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 7.86%. Xerox’s payout ratio is currently -4.66%.

Institutional Trading of Xerox

Hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its holdings in Xerox by 9.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock valued at $8,269,000 after acquiring an additional 69,183 shares in the last quarter. Empowered Funds LLC raised its holdings in Xerox by 8.2% in the 4th quarter. Empowered Funds LLC now owns 606,748 shares of the information technology services provider’s stock valued at $5,115,000 after acquiring an additional 46,212 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Xerox by 6.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock valued at $17,850,000 after acquiring an additional 107,580 shares in the last quarter. Sound Income Strategies LLC raised its holdings in Xerox by 6.7% in the 4th quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider’s stock valued at $9,296,000 after acquiring an additional 69,182 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in 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 acquiring an additional 62,947 shares in the last quarter. 85.36% of the stock is 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.