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

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

Wall Street Analysts Forecast Growth

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

Xerox Stock Down 2.3 %

The company’s 50 day simple moving average is $7.32 and its 200-day simple moving average is $8.62. The firm has a market capitalization of $613.25 million, a PE ratio of -0.46 and a beta of 1.66. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.125 per share. The ex-dividend date is Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 10.21%. Xerox’s payout ratio is presently -4.66%.

Hedge Funds Weigh In On Xerox

Institutional investors have recently made changes to their positions in the stock. Yousif Capital Management LLC raised its position in Xerox by 2.8% during the fourth quarter. Yousif Capital Management LLC now owns 53,816 shares of the information technology services provider’s stock valued at $454,000 after purchasing an additional 1,486 shares in the last quarter. Franklin Resources Inc. lifted its position in Xerox by 1.9% in the 4th quarter. Franklin Resources Inc. now owns 95,012 shares of the information technology services provider’s stock worth $801,000 after buying an additional 1,733 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Xerox by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,209 shares of the information technology services provider’s stock worth $558,000 after buying an additional 2,320 shares in the last quarter. Russell Investments Group Ltd. grew its position in Xerox by 3.0% during the fourth quarter. Russell Investments Group Ltd. now owns 87,466 shares of the information technology services provider’s stock valued at $737,000 after acquiring an additional 2,534 shares during the last quarter. Finally, Picton Mahoney Asset Management raised its stake in shares of Xerox by 330.5% during the fourth quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 2,885 shares in 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.