DNB Asset Management AS grew its holdings in shares of Xerox Corp (NYSE:XRX) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 131,478 shares of the information technology services provider’s stock after buying an additional 1,291 shares during the period. DNB Asset Management AS owned 0.06% of Xerox worth $3,933,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Gradient Investments LLC grew its stake in Xerox by 751.0% in the second quarter. Gradient Investments LLC now owns 834 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 736 shares during the period. Coastal Investment Advisors Inc. purchased a new stake in shares of Xerox in the second quarter worth $32,000. CWM LLC grew its stake in shares of Xerox by 57.9% in the second quarter. CWM LLC now owns 982 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 360 shares during the last quarter. North Star Investment Management Corp. bought a new position in shares of Xerox during the third quarter valued at $37,000. Finally, NuWave Investment Management LLC lifted its holdings in shares of Xerox by 422.1% during the second quarter. NuWave Investment Management LLC now owns 1,227 shares of the information technology services provider’s stock valued at $43,000 after purchasing an additional 992 shares in the last quarter. 85.05% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Herve Tessler sold 32,200 shares of Xerox stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $31.22, for a total value of $1,005,284.00. Following the completion of the transaction, the executive vice president now owns 11,804 shares in the company, valued at approximately $368,520.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.
A number of brokerages have recently issued reports on XRX. Zacks Investment Research raised Xerox from a “hold” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a report on Sunday, November 3rd. JPMorgan Chase & Co. downgraded Xerox from a “neutral” rating to an “underweight” rating and set a $31.00 target price on the stock. in a report on Wednesday, October 30th. Credit Suisse Group increased their target price on Xerox from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, ValuEngine downgraded Xerox from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Xerox currently has a consensus rating of “Hold” and an average price target of $36.67.
Shares of NYSE:XRX traded up $1.54 during trading on Friday, hitting $38.85. 4,730,374 shares of the company’s stock were exchanged, compared to its average volume of 2,579,803. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 11.23 and a beta of 1.79. The business’s 50-day simple moving average is $31.02 and its 200 day simple moving average is $32.01. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 0.91. Xerox Corp has a 52-week low of $18.58 and a 52-week high of $39.38.
Xerox (NYSE:XRX) last released its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.22. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Xerox had a return on equity of 19.62% and a net margin of 7.28%. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. On average, sell-side analysts anticipate that Xerox Corp will post 4.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, December 30th. Xerox’s dividend payout ratio (DPR) is 28.90%.
Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.
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