Paradigm Capital Management Inc. NY Decreases Stock Holdings in Xerox Holdings Co. (NYSE:XRX)

Paradigm Capital Management Inc. NY lessened its holdings in Xerox Holdings Co. (NYSE:XRX) by 83.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 50,000 shares of the information technology services provider’s stock after selling 259,500 shares during the quarter. Paradigm Capital Management Inc. NY’s holdings in Xerox were worth $422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Yousif Capital Management LLC increased its holdings in shares of Xerox by 2.8% in the 4th quarter. Yousif Capital Management LLC now owns 53,816 shares of the information technology services provider’s stock valued at $454,000 after acquiring an additional 1,486 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Xerox by 1.9% in the fourth quarter. Franklin Resources Inc. now owns 95,012 shares of the information technology services provider’s stock valued at $801,000 after purchasing an additional 1,733 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 valued at $558,000 after purchasing an additional 2,320 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Xerox by 3.0% in 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 purchasing an additional 2,534 shares during the last quarter. Finally, Picton Mahoney Asset Management raised its holdings in 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 purchasing an additional 2,885 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Xerox Price Performance

Shares of NYSE XRX opened at $5.40 on Tuesday. The stock has a market cap of $679.27 million, a P/E ratio of -0.50 and a beta of 1.75. Xerox Holdings Co. has a twelve month low of $3.45 and a twelve month high of $14.81. The stock has a 50 day moving average of $4.81 and a two-hundred day moving average of $7.15. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61.

Xerox (NYSE:XRX) last released its quarterly earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, research analysts forecast that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 9.26%. The ex-dividend date of this dividend was Monday, March 31st. Xerox’s dividend payout ratio (DPR) is presently -4.74%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $9.50.

Xerox 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.