Wealthfront Advisers LLC Takes $236,000 Position in Xerox Holdings Co. (NYSE:XRX)

Wealthfront Advisers LLC bought a new position in Xerox Holdings Co. (NYSE:XRX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 27,953 shares of the information technology services provider’s stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in XRX. Pacer Advisors Inc. boosted its holdings in shares of Xerox by 33.2% in the third quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock worth $176,140,000 after buying an additional 4,228,806 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Xerox by 164.8% in the fourth quarter. Victory Capital Management Inc. now owns 546,536 shares of the information technology services provider’s stock worth $4,607,000 after buying an additional 340,168 shares during the period. Barclays PLC boosted its holdings in shares of Xerox by 55.5% during the third quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock worth $4,869,000 after purchasing an additional 167,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Xerox during the third quarter worth approximately $1,626,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Xerox by 6.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock worth $17,850,000 after purchasing an additional 107,580 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut 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 issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $9.50.

Xerox Price Performance

Shares of XRX opened at $5.77 on Tuesday. The firm has a market cap of $722.87 million, a PE ratio of -0.54 and a beta of 1.66. The firm’s 50 day moving average price is $7.95 and its 200 day moving average price is $8.94. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. Xerox Holdings Co. has a twelve month low of $5.62 and a twelve month high of $18.18.

Xerox Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 8.67%. The ex-dividend date is Monday, March 31st. Xerox’s payout ratio is presently -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.