Victory Capital Management Inc. Purchases 340,168 Shares of Xerox Holdings Co. (NYSE:XRX)

Victory Capital Management Inc. lifted its stake in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 164.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 546,536 shares of the information technology services provider's stock after acquiring an additional 340,168 shares during the quarter. Victory Capital Management Inc. owned 0.44% of Xerox worth $4,607,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Gladius Capital Management LP purchased a new stake in shares of Xerox during the third quarter worth $29,000. US Bancorp DE raised its holdings in shares of Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider's stock worth $66,000 after acquiring an additional 1,888 shares in the last quarter. KBC Group NV raised its holdings in shares of Xerox by 84.5% during the fourth quarter. KBC Group NV now owns 9,223 shares of the information technology services provider's stock worth $78,000 after acquiring an additional 4,224 shares in the last quarter. Vest Financial LLC purchased a new stake in shares of Xerox during the fourth quarter worth $97,000. Finally, Prism Advisors Inc. purchased a new stake in shares of Xerox during the fourth quarter worth $103,000. Hedge funds and other institutional investors own 85.36% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Xerox from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $9.50.

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Xerox Stock Performance

Shares of NYSE:XRX traded up $0.08 during midday trading on Tuesday, hitting $5.85. The company's stock had a trading volume of 479,654 shares, compared to its average volume of 2,341,165. Xerox Holdings Co. has a fifty-two week low of $5.62 and a fifty-two week high of $18.18. The stock has a market capitalization of $732.27 million, a price-to-earnings ratio of -0.54 and a beta of 1.66. The stock's 50 day simple moving average is $7.95 and its 200 day simple moving average is $8.94. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 yield of 8.55%. The ex-dividend date of this dividend is Monday, March 31st. Xerox's dividend payout ratio (DPR) is presently -4.66%.

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.