Kovack Advisors Inc. Invests $519,000 in Xerox Holdings Co. (NYSE:XRX)

Kovack Advisors Inc. bought a new position in shares of Xerox Holdings Co. (NYSE:XRX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 61,600 shares of the information technology services provider’s stock, valued at approximately $519,000.

Several other large investors also recently modified their holdings of XRX. Creative Planning acquired a new stake in shares of Xerox during the 3rd quarter worth $225,000. International Assets Investment Management LLC grew its holdings in shares of Xerox by 938.0% during the 3rd quarter. International Assets Investment Management LLC now owns 8,304 shares of the information technology services provider’s stock worth $800,000 after purchasing an additional 7,504 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Xerox by 24.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,600 shares of the information technology services provider’s stock worth $183,000 after purchasing an additional 3,444 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Xerox by 42.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 73,147 shares of the information technology services provider’s stock worth $778,000 after purchasing an additional 21,897 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Xerox by 42.3% during the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after buying an additional 1,888 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Xerox Price Performance

Shares of XRX stock opened at $6.63 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. Xerox Holdings Co. has a twelve month low of $6.60 and a twelve month high of $19.48. The company has a market cap of $824.60 million, a P/E ratio of -0.62 and a beta of 1.59. The business has a fifty day simple moving average of $8.54 and a 200 day simple moving average of $9.30.

Xerox Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 annualized dividend and a yield of 7.54%. Xerox’s dividend payout ratio is presently -4.66%.

Wall Street Analysts Forecast Growth

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 issued a hold rating to the stock. According to MarketBeat, Xerox currently has a consensus rating of “Reduce” and an average price target of $9.50.

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.