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

Victory Capital Management Inc. increased its stake in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 164.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 546,536 shares of the information technology services provider's stock after purchasing an additional 340,168 shares during the period. Victory Capital Management Inc. owned 0.44% of Xerox worth $4,607,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Yousif Capital Management LLC lifted its holdings in Xerox by 2.8% during the 4th quarter. Yousif Capital Management LLC now owns 53,816 shares of the information technology services provider's stock worth $454,000 after purchasing an additional 1,486 shares in the last quarter. US Bancorp DE increased its position in shares of 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 purchasing an additional 1,888 shares during the last quarter. Gladius Capital Management LP bought a new position in shares of Xerox during the 3rd quarter valued at about $29,000. Coastwise Capital Group LLC increased its position in shares of Xerox by 13.8% during the 3rd quarter. Coastwise Capital Group LLC now owns 24,075 shares of the information technology services provider's stock valued at $250,000 after purchasing an additional 2,924 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Xerox by 84.5% during the 4th quarter. KBC Group NV now owns 9,223 shares of the information technology services provider's stock valued at $78,000 after purchasing an additional 4,224 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

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Xerox Stock Down 0.2 %

Shares of NYSE XRX traded down $0.01 during mid-day trading on Tuesday, hitting $5.76. 3,490,423 shares of the stock traded hands, compared to its average volume of 2,354,358. 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 Holdings Co. has a 52 week low of $5.62 and a 52 week high of $18.18. The company has a market cap of $721.62 million, a price-to-earnings ratio of -0.54 and a beta of 1.66. The stock has a fifty day moving average price of $7.89 and a 200-day moving average price of $8.90.

Xerox Cuts Dividend

The business 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 $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 8.68%. The ex-dividend date is Monday, March 31st. Xerox's dividend payout ratio (DPR) is -4.66%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Xerox from a "buy" rating to a "hold" rating in a research report 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 data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target 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.