Xerox (NYSE:XRX) Trading 4.9% Higher – Here’s What Happened

Xerox Holdings Co. (NYSE:XRX)’s share price was up 4.9% on Friday . The stock traded as high as $6.53 and last traded at $6.52. Approximately 624,935 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 2,903,531 shares. The stock had previously closed at $6.22.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $9.50.

Xerox Price Performance

The firm’s fifty day simple moving average is $8.36 and its 200-day simple moving average is $9.22. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The firm has a market capitalization of $822.47 million, a PE ratio of -0.61 and a beta of 1.59.

Xerox Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 7.62%. Xerox’s dividend payout ratio is -4.66%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Creative Planning bought a new position in Xerox during the 3rd quarter valued at about $225,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Xerox by 24.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,600 shares of the information technology services provider’s stock worth $183,000 after purchasing an additional 3,444 shares during the last quarter. US Bancorp DE grew its position in 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 period. Entropy Technologies LP raised its stake in Xerox by 250.6% during the 3rd quarter. Entropy Technologies LP now owns 48,802 shares of the information technology services provider’s stock valued at $507,000 after buying an additional 34,881 shares during the last quarter. Finally, Verus Capital Partners LLC boosted its stake in shares of Xerox by 11.2% in the 3rd quarter. Verus Capital Partners LLC now owns 76,708 shares of the information technology services provider’s stock worth $796,000 after buying an additional 7,700 shares during the last quarter. 85.36% of the stock is 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.