Xerox Holdings Co. (NYSE:XRX) Holdings Lowered by LSV Asset Management

LSV Asset Management cut its stake in Xerox Holdings Co. (NYSE:XRX) by 16.4% in the 4th quarter, HoldingsChannel reports. The fund owned 4,538,099 shares of the information technology services provider’s stock after selling 890,825 shares during the period. LSV Asset Management’s holdings in Xerox were worth $38,256,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in XRX. Vanguard Group Inc. lifted its position in Xerox by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider’s stock worth $132,888,000 after purchasing an additional 199,598 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 worth $29,161,000 after buying an additional 62,947 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Xerox by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider’s stock valued at $15,276,000 after buying an additional 92,495 shares during the period. Invesco Ltd. boosted its stake in Xerox by 5.9% during the fourth quarter. Invesco Ltd. now owns 1,706,086 shares of the information technology services provider’s stock valued at $14,382,000 after buying an additional 94,779 shares in the last quarter. Finally, Sound Income Strategies LLC grew its holdings in Xerox by 6.7% during the fourth quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider’s stock worth $9,296,000 after acquiring an additional 69,182 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Stock Performance

XRX opened at $3.96 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The firm has a market cap of $496.11 million, a PE ratio of -0.37 and a beta of 1.56. The business has a fifty day simple moving average of $6.15 and a 200-day simple moving average of $8.13. Xerox Holdings Co. has a fifty-two week low of $3.45 and a fifty-two week high of $17.18.

Xerox Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a yield of 12.63%. Xerox’s dividend payout ratio is currently -4.66%.

Analyst Ratings Changes

Separately, StockNews.com downgraded 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 issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $9.50.

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.