Xerox Holdings Co. (NYSE:XRX) Shares Sold by Royce & Associates LP

Royce & Associates LP reduced its stake in Xerox Holdings Co. (NYSE:XRX - Free Report) by 95.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,854 shares of the information technology services provider's stock after selling 705,335 shares during the quarter. Royce & Associates LP's holdings in Xerox were worth $311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Picton Mahoney Asset Management increased its position in Xerox by 330.5% during the fourth quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider's stock worth $31,000 after purchasing an additional 2,885 shares during the last quarter. KBC Group NV increased its holdings 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 worth $78,000 after buying an additional 4,224 shares during the last quarter. Marathon Trading Investment Management LLC purchased a new stake in shares of Xerox during the 4th quarter valued at approximately $84,000. Vest Financial LLC acquired a new position in Xerox in the fourth quarter valued at approximately $97,000. Finally, Prism Advisors Inc. purchased a new position in Xerox in the fourth quarter worth approximately $103,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Xerox Trading Up 0.6 %

Shares of XRX traded up $0.03 during midday trading on Wednesday, hitting $5.29. 5,881,527 shares of the stock were exchanged, compared to its average volume of 2,474,804. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The firm has a market cap of $662.74 million, a P/E ratio of -0.49 and a beta of 1.66. Xerox Holdings Co. has a 52-week low of $5.13 and a 52-week high of $18.18. The stock has a fifty day simple moving average of $7.55 and a 200 day simple moving average of $8.72.

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Xerox Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 dividend on an annualized basis and a yield of 9.45%. Xerox's dividend payout ratio (DPR) is presently -4.66%.

Wall Street Analyst Weigh In

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

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.