Federated Hermes Inc. Sells 39,159 Shares of Xerox Holdings Co. (NYSE:XRX)

Federated Hermes Inc. lowered its position in Xerox Holdings Co. (NYSE:XRX) by 18.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 172,428 shares of the information technology services provider’s stock after selling 39,159 shares during the period. Federated Hermes Inc. owned approximately 0.14% of Xerox worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in Xerox by 3.0% during the 4th quarter. Russell Investments Group Ltd. now owns 87,466 shares of the information technology services provider’s stock valued at $737,000 after acquiring an additional 2,534 shares during the period. Franklin Resources Inc. boosted its stake in shares of Xerox by 1.9% during the fourth quarter. Franklin Resources Inc. now owns 95,012 shares of the information technology services provider’s stock valued at $801,000 after purchasing an additional 1,733 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Xerox in the fourth quarter worth about $688,000. RiverFront Investment Group LLC purchased a new position in Xerox in the 4th quarter worth about $95,000. Finally, Norges Bank purchased a new stake in Xerox in the 4th quarter valued at about $1,632,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

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

Xerox Trading Down 2.0 %

NYSE:XRX opened at $3.88 on Tuesday. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. The firm has a 50-day simple moving average of $6.06 and a 200-day simple moving average of $8.07. Xerox Holdings Co. has a one year low of $3.45 and a one year high of $16.96. The firm has a market cap of $486.09 million, a P/E ratio of -0.36 and a beta of 1.56.

Xerox Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a yield of 12.89%. Xerox’s dividend payout ratio is currently -4.66%.

Xerox 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.