Charles Schwab Investment Management Inc. Purchases 92,495 Shares of Xerox Holdings Co. (NYSE:XRX)

Charles Schwab Investment Management Inc. increased its stake in Xerox Holdings Co. (NYSE:XRX) by 5.4% in the fourth quarter, Holdings Channel reports. The firm owned 1,812,102 shares of the information technology services provider’s stock after purchasing an additional 92,495 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Xerox were worth $15,276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its stake in Xerox by 33.2% in the 3rd quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock worth $176,140,000 after purchasing an additional 4,228,806 shares in the last quarter. Geode Capital Management LLC boosted its stake in Xerox by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock worth $29,161,000 after purchasing an additional 62,947 shares in the last quarter. Sound Income Strategies LLC boosted its stake in Xerox by 6.7% in the 4th quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider’s stock worth $9,296,000 after purchasing an additional 69,182 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Xerox by 9.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 796,609 shares of the information technology services provider’s stock worth $8,269,000 after purchasing an additional 69,183 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Xerox by 8.2% in the 4th 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. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Xerox Stock Performance

Shares of NYSE XRX opened at $5.64 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The stock has a market cap of $706.58 million, a price-to-earnings ratio of -0.53 and a beta of 1.66. The company has a 50 day simple moving average of $7.76 and a two-hundred day simple moving average of $8.86. Xerox Holdings Co. has a 12 month low of $5.62 and a 12 month high of $18.18.

Xerox Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 8.87%. The ex-dividend date of this dividend is Monday, March 31st. Xerox’s dividend payout ratio (DPR) is -4.66%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat.com, Xerox 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.