Xerox Holdings Co. (NYSE:XRX) Stock Position Trimmed by LSV Asset Management

LSV Asset Management lessened its holdings in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 16.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,538,099 shares of the information technology services provider's stock after selling 890,825 shares during the quarter. LSV Asset Management owned 3.65% of Xerox worth $38,256,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Point72 Asset Management L.P. increased its stake in shares of Xerox by 39.2% in the third quarter. Point72 Asset Management L.P. now owns 38,312 shares of the information technology services provider's stock worth $398,000 after buying an additional 10,794 shares during the last quarter. Stifel Financial Corp grew its holdings in Xerox by 44.2% during the 3rd quarter. Stifel Financial Corp now owns 152,380 shares of the information technology services provider's stock worth $1,582,000 after acquiring an additional 46,708 shares in the last quarter. Barclays PLC increased its position in shares of Xerox by 55.5% in the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider's stock worth $4,869,000 after purchasing an additional 167,500 shares during the last quarter. 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 valued at $29,161,000 after purchasing an additional 62,947 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Xerox by 26.1% during the third quarter. Tidal Investments LLC now owns 68,359 shares of the information technology services provider's stock worth $710,000 after purchasing an additional 14,164 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Separately, StockNews.com cut 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's stock. According to MarketBeat.com, Xerox currently has an average rating of "Reduce" and an average target price of $9.50.

Xerox Stock Performance

Shares of NYSE XRX traded down $0.03 during midday trading on Tuesday, hitting $3.85. The company's stock had a trading volume of 2,543,586 shares, compared to its average volume of 2,731,140. The firm has a market cap of $482.33 million, a P/E ratio of -0.36 and a beta of 1.56. Xerox Holdings Co. has a 1-year low of $3.45 and a 1-year high of $16.77. The firm's fifty day moving average price is $5.97 and its 200-day moving average price is $8.04. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11.

Xerox Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 12.99%. The ex-dividend date is Monday, March 31st. Xerox's payout ratio 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.