AlphaQuest LLC Boosts Stock Position in Xerox Holdings Co. (NYSE:XRX)

AlphaQuest LLC raised its stake in shares of Xerox Holdings Co. (NYSE:XRX) by 25.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,718 shares of the information technology services provider’s stock after acquiring an additional 4,882 shares during the period. AlphaQuest LLC’s holdings in Xerox were worth $200,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in XRX. US Bancorp DE raised its stake in Xerox by 42.3% during the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock valued at $66,000 after acquiring an additional 1,888 shares during the last quarter. Victory Capital Management Inc. raised its stake in Xerox by 10.0% during the 3rd quarter. Victory Capital Management Inc. now owns 206,368 shares of the information technology services provider’s stock valued at $2,142,000 after acquiring an additional 18,819 shares during the last quarter. Royce & Associates LP increased its position in Xerox by 16.9% during the 3rd quarter. Royce & Associates LP now owns 742,189 shares of the information technology services provider’s stock worth $7,704,000 after purchasing an additional 107,127 shares during the period. Empowered Funds LLC increased its position in Xerox by 4.8% during the 3rd quarter. Empowered Funds LLC now owns 560,536 shares of the information technology services provider’s stock worth $5,818,000 after purchasing an additional 25,590 shares during the period. Finally, Gladius Capital Management LP acquired a new position in Xerox during the 3rd quarter worth approximately $29,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $9.50.

Xerox Stock Performance

XRX opened at $5.79 on Monday. The stock has a market cap of $725.38 million, a P/E ratio of -0.54 and a beta of 1.66. 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 stock’s 50 day simple moving average is $8.00 and its 200 day simple moving average is $8.98. Xerox Holdings Co. has a 1-year low of $5.74 and a 1-year high of $18.18.

Xerox Cuts Dividend

The company also recently declared 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. This represents a $0.50 dividend on an annualized basis and a dividend yield of 8.64%. The ex-dividend date of this dividend is Monday, March 31st. Xerox’s dividend payout ratio is currently -4.66%.

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.