Xerox (NYSE:XRX) Sets New 1-Year Low - What's Next?

Xerox Holdings Co. (NYSE:XRX - Get Free Report)'s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $7.70 and last traded at $7.73, with a volume of 1268657 shares traded. The stock had previously closed at $7.85.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Xerox from $11.00 to $8.00 and set an "underweight" rating for the company in a research note on Wednesday, October 30th. Morgan Stanley decreased their target price on Xerox from $10.00 to $8.00 and set an "underweight" rating for the company in a research report on Wednesday, October 30th. Finally, StockNews.com lowered Xerox from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Three investment 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 stock currently has an average rating of "Reduce" and a consensus target price of $9.50.

Xerox Trading Down 3.6 %

The business's 50 day simple moving average is $8.64 and its 200 day simple moving average is $9.36. 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 has a market capitalization of $931.56 million, a price-to-earnings ratio of -0.70 and a beta of 1.59.

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Xerox Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 6.68%. The ex-dividend date of this dividend is Monday, March 31st. Xerox's dividend payout ratio is presently -4.66%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Gladius Capital Management LP acquired a new stake in shares of Xerox during the third quarter worth $29,000. Picton Mahoney Asset Management raised its position in Xerox by 330.5% during the 4th quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider's stock worth $31,000 after buying an additional 2,885 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new stake in shares of Xerox in the 4th quarter worth $51,000. US Bancorp DE lifted its stake in shares of Xerox by 42.3% in the 3rd 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 during the period. Finally, KBC Group NV boosted its holdings in shares of 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 in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

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.