Bank of Montreal Can Acquires 7,191 Shares of Xerox Holdings Co. (NYSE:XRX)

Bank of Montreal Can increased its stake in Xerox Holdings Co. (NYSE:XRX) by 2.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 263,566 shares of the information technology services provider’s stock after purchasing an additional 7,191 shares during the quarter. Bank of Montreal Can’s holdings in Xerox were worth $2,222,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of XRX. Picton Mahoney Asset Management increased its stake in shares of Xerox by 330.5% in the fourth 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 in the last quarter. KBC Group NV boosted its holdings in 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 buying an additional 4,224 shares during the period. Marathon Trading Investment Management LLC purchased a new stake in Xerox in the 4th quarter worth $84,000. Xponance Inc. bought a new stake in Xerox during the fourth quarter valued at about $87,000. Finally, Greenwich Wealth Management LLC purchased a new position in shares of Xerox in the fourth quarter valued at about $89,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Xerox Stock Down 2.1 %

XRX opened at $3.77 on Thursday. Xerox Holdings Co. has a 52 week low of $3.45 and a 52 week high of $16.77. 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 50-day simple moving average of $5.89 and a two-hundred day simple moving average of $8.01. The company has a market capitalization of $474.17 million, a PE ratio of -0.35 and a beta of 1.56.

Xerox Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 13.26%. The ex-dividend date is Monday, March 31st. Xerox’s payout ratio is -4.66%.

Analysts Set New Price Targets

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

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.