Connor Clark & Lunn Investment Management Ltd. Purchases 55,878 Shares of Xerox Holdings Co. (NYSE:XRX)

Connor Clark & Lunn Investment Management Ltd. increased its position in Xerox Holdings Co. (NYSE:XRX) by 35.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 212,530 shares of the information technology services provider’s stock after acquiring an additional 55,878 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.17% of Xerox worth $1,792,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Wealthfront Advisers LLC bought a new stake in shares of Xerox in the fourth quarter worth $236,000. Marathon Trading Investment Management LLC purchased a new position in Xerox during the fourth quarter valued at $84,000. AlphaQuest LLC lifted its position in Xerox by 25.9% during the fourth quarter. AlphaQuest LLC now owns 23,718 shares of the information technology services provider’s stock valued at $200,000 after purchasing an additional 4,882 shares in the last quarter. Amundi lifted its position in Xerox by 175.6% during the fourth quarter. Amundi now owns 56,099 shares of the information technology services provider’s stock valued at $500,000 after purchasing an additional 35,745 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Xerox during the fourth quarter valued at $208,000. Institutional investors own 85.36% of the company’s stock.

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 assigned a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $9.50.

Xerox Price Performance

Shares of Xerox stock opened at $5.76 on Wednesday. The stock’s 50-day simple moving average is $7.89 and its 200-day simple moving average is $8.90. Xerox Holdings Co. has a 52 week low of $5.62 and a 52 week high of $18.18. The company has a market capitalization of $721.62 million, a price-to-earnings ratio of -0.54 and a beta of 1.66. 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 Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.125 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.50 annualized dividend and a dividend yield of 8.68%. Xerox’s payout ratio is -4.66%.

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.