Xerox (NYSE:XRX) Sets New 52-Week Low – Time to Sell?

Xerox Holdings Co. (NYSE:XRX)’s share price reached 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 Upgrades and Downgrades

Several research firms recently commented on XRX. JPMorgan Chase & Co. cut their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Morgan Stanley dropped their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Finally, 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 given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $9.50.

Xerox Price Performance

The company has a 50 day moving average price of $8.70 and a 200 day moving average price of $9.41. The company has a market capitalization of $981.90 million, a price-to-earnings ratio of -0.74 and a beta of 1.59. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61.

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 given a $0.125 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.50 annualized dividend and a dividend yield of 6.33%. Xerox’s dividend payout ratio is currently -9.31%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in XRX. Gladius Capital Management LP bought a new position in shares of Xerox in the 3rd quarter worth $29,000. Picton Mahoney Asset Management boosted its position in shares of Xerox by 330.5% in the 4th 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. TD Waterhouse Canada Inc. bought a new position in shares of Xerox in the 4th quarter worth $51,000. US Bancorp DE boosted its position 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 purchasing an additional 1,888 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Xerox by 84.5% in the 4th quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock worth $78,000 after purchasing an additional 4,224 shares during the last quarter. 85.36% of the stock is currently owned by 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.