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

Xerox Holdings Co. (NYSE:XRX)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $6.01 and last traded at $5.99, with a volume of 491525 shares. The stock had previously closed at $6.11.

Analysts Set New Price Targets

Separately, StockNews.com downgraded 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 given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $9.50.

Xerox Price Performance

The company’s 50 day simple moving average is $8.10 and its 200 day simple moving average is $9.07. 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 stock has a market cap of $726.63 million, a P/E ratio of -0.54 and a beta of 1.66.

Xerox Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 8.62%. The ex-dividend date is Monday, March 31st. Xerox’s payout ratio is presently -4.66%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its position in shares of Xerox by 33.2% during 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 purchasing an additional 4,228,806 shares during the period. Marshall Wace LLP increased its stake in Xerox by 397.5% during the 4th quarter. Marshall Wace LLP now owns 1,378,215 shares of the information technology services provider’s stock worth $11,618,000 after purchasing an additional 1,101,171 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Xerox by 2,846.8% during the 4th quarter. Point72 Asset Management L.P. now owns 1,128,973 shares of the information technology services provider’s stock worth $9,517,000 after buying an additional 1,090,661 shares during the period. BNP Paribas Financial Markets bought a new position in Xerox in the fourth quarter valued at approximately $4,101,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Xerox in the fourth quarter valued at approximately $3,067,000. 85.36% of the stock is currently owned by institutional investors.

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.