Paradigm Capital Management Inc. NY Sells 259,500 Shares of Xerox Holdings Co. (NYSE:XRX)

Paradigm Capital Management Inc. NY lessened its stake in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 83.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,000 shares of the information technology services provider's stock after selling 259,500 shares during the period. Paradigm Capital Management Inc. NY's holdings in Xerox were worth $422,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Invesco Ltd. lifted its position in shares of Xerox by 5.9% during the 4th quarter. Invesco Ltd. now owns 1,706,086 shares of the information technology services provider's stock valued at $14,382,000 after buying an additional 94,779 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Xerox by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider's stock valued at $132,888,000 after purchasing an additional 199,598 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Xerox by 12.3% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 476,266 shares of the information technology services provider's stock worth $4,015,000 after purchasing an additional 52,104 shares during the period. Empowered Funds LLC increased its stake in shares of Xerox by 8.2% in the fourth quarter. Empowered Funds LLC now owns 606,748 shares of the information technology services provider's stock worth $5,115,000 after purchasing an additional 46,212 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Xerox by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider's stock worth $15,276,000 after purchasing an additional 92,495 shares in the last quarter. Institutional investors own 85.36% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of 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 assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $9.50.

Xerox Price Performance

XRX stock traded down $0.63 during mid-day trading on Friday, reaching $4.49. 13,368,112 shares of the company traded hands, compared to its average volume of 2,951,508. The company has a fifty day moving average price of $4.74 and a 200-day moving average price of $7.06. Xerox Holdings Co. has a 52-week low of $3.45 and a 52-week high of $14.81. The company has a market capitalization of $564.80 million, a P/E ratio of -0.42 and a beta of 1.75. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84.

Xerox (NYSE:XRX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. During the same quarter in the prior year, the company earned $0.06 earnings per share. The company's revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, analysts anticipate that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

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.