Paradigm Capital Management Inc. NY Reduces Stock Holdings in Xerox Holdings Co. (NYSE:XRX)

Paradigm Capital Management Inc. NY reduced its position in shares of Xerox Holdings Co. (NYSE:XRX - Free Report) by 83.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its holdings in shares of Xerox by 330.5% during the 4th quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider's stock worth $31,000 after buying an additional 2,885 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new position in Xerox in the fourth quarter worth approximately $51,000. KBC Group NV increased its stake in Xerox by 84.5% during the fourth quarter. KBC Group NV now owns 9,223 shares of the information technology services provider's stock worth $78,000 after acquiring an additional 4,224 shares during the last quarter. Marathon Trading Investment Management LLC purchased a new stake in Xerox in the fourth quarter valued at $84,000. Finally, Sterling Capital Management LLC lifted its stake in shares of Xerox by 48.9% in the 4th quarter. Sterling Capital Management LLC now owns 10,106 shares of the information technology services provider's stock valued at $85,000 after purchasing an additional 3,319 shares during the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Xerox Trading Down 2.5%

XRX opened at $5.40 on Tuesday. Xerox Holdings Co. has a 52 week low of $3.45 and a 52 week high of $14.81. 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 business has a fifty day simple moving average of $4.81 and a 200-day simple moving average of $7.15. The firm has a market cap of $679.27 million, a P/E ratio of -0.50 and a beta of 1.75.

Xerox (NYSE:XRX - Get Free Report) last released its earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) earnings per share 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%. The business's revenue was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share. On average, equities analysts expect that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 9.26%. The ex-dividend date was Monday, March 31st. Xerox's dividend payout ratio is currently -4.74%.

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.

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