Xerox (NYSE:XRX) Reaches New 12-Month Low - Here's Why

Xerox Holdings Co. (NYSE:XRX - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $6.16 and last traded at $6.37, with a volume of 4345800 shares. The stock had previously closed at $6.40.

Analyst Ratings Changes

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

Xerox Trading Up 2.3 %

The company has a market capitalization of $796.79 million, a PE ratio of -0.59 and a beta of 1.66. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84. The company's fifty day moving average is $8.30 and its 200-day moving average is $9.19.

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 issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.86%. Xerox's dividend payout ratio is presently -4.66%.

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Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Yousif Capital Management LLC increased its position in shares of Xerox by 2.8% during the fourth 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. Franklin Resources Inc. boosted its holdings in shares of Xerox by 1.9% in the 4th quarter. Franklin Resources Inc. now owns 95,012 shares of the information technology services provider's stock valued at $801,000 after acquiring an additional 1,733 shares during the last quarter. US Bancorp DE grew its position in Xerox by 42.3% during the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider's stock worth $66,000 after purchasing an additional 1,888 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Xerox by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,209 shares of the information technology services provider's stock valued at $558,000 after buying an additional 2,320 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Xerox by 3.0% in the 4th quarter. Russell Investments Group Ltd. now owns 87,466 shares of the information technology services provider's stock valued at $737,000 after buying an additional 2,534 shares during the period. Institutional investors own 85.36% of the company's stock.

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.