Kovack Advisors Inc. Acquires Shares of 61,600 Xerox Holdings Co. (NYSE:XRX)

Kovack Advisors Inc. bought a new position in Xerox Holdings Co. (NYSE:XRX - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 61,600 shares of the information technology services provider's stock, valued at approximately $519,000.

Other institutional investors have also added to or reduced their stakes in the company. Gladius Capital Management LP bought a new position in shares of Xerox in the third quarter worth approximately $29,000. US Bancorp DE boosted its position in Xerox by 42.3% during the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider's stock valued at $66,000 after buying an additional 1,888 shares during the period. KBC Group NV increased its position in shares of Xerox by 84.5% in the fourth quarter. KBC Group NV now owns 9,223 shares of the information technology services provider's stock valued at $78,000 after acquiring an additional 4,224 shares during the period. Vest Financial LLC bought a new position in shares of Xerox during the fourth quarter valued at about $97,000. Finally, Prism Advisors Inc. purchased a new stake in shares of Xerox during the fourth quarter worth about $103,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered 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 issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $9.50.

Remove Ads

Xerox Trading Up 0.9 %

Shares of NYSE:XRX traded up $0.06 on Tuesday, hitting $6.46. The company had a trading volume of 3,029,792 shares, compared to its average volume of 2,910,603. The firm's 50-day simple moving average is $8.48 and its two-hundred day simple moving average is $9.26. The firm has a market capitalization of $808.69 million, a price-to-earnings ratio of -0.60 and a beta of 1.59. 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 $6.16 and a 1 year high of $19.11.

Xerox Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.75%. Xerox's dividend payout ratio (DPR) is -4.66%.

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.