Xerox (NYSE:XRX) Trading 4.9% Higher - Here's What Happened

Xerox Holdings Co. (NYSE:XRX - Get Free Report) traded up 4.9% on Friday . The stock traded as high as $6.53 and last traded at $6.52. 624,935 shares changed hands during trading, a decline of 78% from the average session volume of 2,903,531 shares. The stock had previously closed at $6.22.

Analysts Set New Price Targets

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 issued a hold rating to the company. Based on data from MarketBeat.com, Xerox presently has an average rating of "Reduce" and a consensus price target of $9.50.

Xerox Trading Up 2.3 %

The stock has a fifty day moving average of $8.25 and a 200 day moving average of $9.15. The company has a market capitalization of $796.79 million, a P/E ratio of -0.59 and a beta of 1.66. 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 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 7.86%. Xerox's dividend payout ratio is currently -4.66%.

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Hedge Funds Weigh In On Xerox

A number of institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its holdings in Xerox by 33.2% in the 3rd quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider's stock worth $176,140,000 after purchasing an additional 4,228,806 shares during the period. Vanguard Group Inc. increased its stake in Xerox by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider's stock worth $132,888,000 after buying an additional 199,598 shares in the last quarter. Geode Capital Management LLC increased its stake in Xerox by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider's stock worth $29,161,000 after buying an additional 62,947 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Xerox by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider's stock worth $15,276,000 after buying an additional 92,495 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Xerox by 5.9% in the 4th quarter. Invesco Ltd. now owns 1,706,086 shares of the information technology services provider's stock worth $14,382,000 after buying an additional 94,779 shares in the last quarter. 85.36% of the stock is owned by institutional investors.

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.