Xerox (NYSE:XRX) Sets New 12-Month Low – Should You Sell?

Xerox Holdings Co. (NYSE:XRX)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $6.88 and last traded at $6.93, with a volume of 6189098 shares changing hands. The stock had previously closed at $7.49.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three 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 currently has an average rating of “Reduce” and an average target price of $9.50.

Xerox Price Performance

The stock has a fifty day moving average price of $8.54 and a 200-day moving average price of $9.30. The company has a market cap of $824.60 million, a PE ratio of -0.62 and a beta of 1.59. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84.

Xerox Cuts Dividend

The firm also recently announced 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 7.54%. Xerox’s payout ratio is currently -4.66%.

Institutional Trading of Xerox

Several hedge funds and other institutional investors have recently modified their holdings of XRX. Pacer Advisors Inc. raised its holdings in shares of Xerox by 33.2% during the third quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock worth $176,140,000 after acquiring an additional 4,228,806 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Xerox by 397.5% during the fourth quarter. Marshall Wace LLP now owns 1,378,215 shares of the information technology services provider’s stock worth $11,618,000 after acquiring an additional 1,101,171 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Xerox by 2,846.8% during the fourth quarter. Point72 Asset Management L.P. now owns 1,128,973 shares of the information technology services provider’s stock worth $9,517,000 after acquiring an additional 1,090,661 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Xerox during the fourth quarter worth $4,101,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Xerox during the fourth quarter worth $3,067,000. 85.36% of the stock is currently owned by hedge funds and other 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.