193,638 Shares in Xerox Holdings Co. (NYSE:XRX) Bought by Norges Bank

Norges Bank purchased a new position in Xerox Holdings Co. (NYSE:XRX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 193,638 shares of the information technology services provider's stock, valued at approximately $1,632,000. Norges Bank owned 0.16% of Xerox at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Picton Mahoney Asset Management increased its position in Xerox by 330.5% in the 4th quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider's stock valued at $31,000 after buying an additional 2,885 shares in the last quarter. KBC Group NV grew its stake in 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. Marathon Trading Investment Management LLC bought a new stake in shares of Xerox during the fourth quarter valued at approximately $84,000. Xponance Inc. acquired a new position in shares of Xerox during the fourth quarter worth approximately $87,000. Finally, Greenwich Wealth Management LLC acquired a new stake in Xerox in the 4th quarter valued at $89,000. 85.36% of the stock is owned by institutional investors.

Xerox Stock Down 0.8 %

Xerox stock traded down $0.03 during trading on Tuesday, hitting $3.85. 2,543,586 shares of the company were exchanged, compared to its average volume of 2,726,181. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The business's 50 day moving average is $6.06 and its 200 day moving average is $8.07. Xerox Holdings Co. has a 52 week low of $3.45 and a 52 week high of $16.96. The company has a market capitalization of $482.33 million, a P/E ratio of -0.36 and a beta of 1.56.

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Xerox Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.125 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.50 annualized dividend and a dividend yield of 12.99%. Xerox's dividend payout ratio is currently -4.66%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Xerox from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on 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.