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

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

Analyst Ratings Changes

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

Xerox Price Performance

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

Xerox Cuts Dividend

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Xerox by 7.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 549,551 shares of the information technology services provider’s stock worth $4,633,000 after buying an additional 36,420 shares during the period. Voloridge Investment Management LLC acquired a new position in Xerox during the fourth quarter worth about $1,375,000. Wexford Capital LP purchased a new stake in Xerox in the 4th quarter valued at $97,000. Two Sigma Advisers LP boosted its holdings in Xerox by 8.7% in the 4th quarter. Two Sigma Advisers LP now owns 289,750 shares of the information technology services provider’s stock valued at $2,443,000 after purchasing an additional 23,100 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Xerox by 1.0% during the 4th quarter. Two Sigma Investments LP now owns 452,329 shares of the information technology services provider’s stock worth $3,813,000 after purchasing an additional 4,552 shares during the last quarter. 85.36% of the stock is owned by 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.