Federated Hermes Inc. Sells 39,159 Shares of Xerox Holdings Co. (NYSE:XRX)

Federated Hermes Inc. lessened its position in shares of Xerox Holdings Co. (NYSE:XRX) by 18.5% in the 4th quarter, HoldingsChannel reports. The fund owned 172,428 shares of the information technology services provider’s stock after selling 39,159 shares during the period. Federated Hermes Inc.’s holdings in Xerox were worth $1,454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of XRX. Picton Mahoney Asset Management boosted its position in shares of Xerox by 330.5% in the 4th 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 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 in the last quarter. Marathon Trading Investment Management LLC acquired a new position in shares of Xerox during the fourth quarter valued at about $84,000. Xponance Inc. purchased a new position in shares of Xerox in the 4th quarter valued at approximately $87,000. Finally, Greenwich Wealth Management LLC acquired a new stake in Xerox in the 4th quarter worth approximately $89,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of 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 stock. Based on data from MarketBeat.com, Xerox currently has an average rating of “Reduce” and a consensus price target of $9.50.

Xerox Price Performance

Shares of XRX opened at $3.88 on Tuesday. The company has a market capitalization of $486.09 million, a P/E ratio of -0.36 and a beta of 1.56. The business’s 50-day moving average is $6.06 and its two-hundred day moving average is $8.07. 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 fifty-two week low of $3.45 and a fifty-two week high of $16.96.

Xerox Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 12.89%. 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.