Connor Clark & Lunn Investment Management Ltd. Buys 55,878 Shares of Xerox Holdings Co. (NYSE:XRX)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Xerox Holdings Co. (NYSE:XRX - Free Report) by 35.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 212,530 shares of the information technology services provider's stock after buying an additional 55,878 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.17% of Xerox worth $1,792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in XRX. Victory Capital Management Inc. raised its position in Xerox by 10.0% during the third quarter. Victory Capital Management Inc. now owns 206,368 shares of the information technology services provider's stock valued at $2,142,000 after purchasing an additional 18,819 shares in the last quarter. Advisors Asset Management Inc. raised its position in Xerox by 9.5% during the third quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider's stock valued at $8,269,000 after purchasing an additional 69,183 shares in the last quarter. Intech Investment Management LLC acquired a new position in Xerox during the third quarter valued at approximately $498,000. Pacer Advisors Inc. raised its position in 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 valued at $176,140,000 after purchasing an additional 4,228,806 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Xerox by 6.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider's stock valued at $17,850,000 after purchasing an additional 107,580 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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Xerox Price Performance

Shares of NYSE:XRX traded down $0.13 during trading on Friday, hitting $5.51. 34,290,683 shares of the company were exchanged, compared to its average volume of 2,433,646. The business's 50 day moving average is $7.69 and its 200-day moving average is $8.82. The company has a market capitalization of $690.30 million, a P/E ratio of -0.51 and a beta of 1.66. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. Xerox Holdings Co. has a 1-year low of $5.48 and a 1-year high of $18.18.

Xerox Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 9.07%. Xerox's dividend payout ratio (DPR) is currently -4.66%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Xerox from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Three investment 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 a consensus rating of "Reduce" and an average target price of $9.50.

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.