US Bancorp DE trimmed its stake in shares of Xerox Corp (NYSE:XRX) by 3.9% in the 4th quarter, HoldingsChannel reports. The firm owned 51,743 shares of the information technology services provider’s stock after selling 2,087 shares during the period. US Bancorp DE’s holdings in Xerox were worth $1,508,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its stake in Xerox by 10.7% during the 4th quarter. Victory Capital Management Inc. now owns 176,591 shares of the information technology services provider’s stock worth $5,148,000 after purchasing an additional 17,063 shares in the last quarter. Conning Inc. acquired a new position in Xerox during the 4th quarter worth $215,000. Advisor Partners LLC acquired a new position in Xerox during the 4th quarter worth $204,000. Commerzbank Aktiengesellschaft FI grew its stake in Xerox by 591.9% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 100,623 shares of the information technology services provider’s stock worth $2,933,000 after purchasing an additional 86,081 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Xerox by 22.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,066,810 shares of the information technology services provider’s stock worth $31,155,000 after purchasing an additional 196,807 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised Xerox from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. UBS Group reaffirmed a “hold” rating and set a $34.50 price objective on shares of Xerox in a research report on Tuesday, December 5th. Standpoint Research reaffirmed a “hold” rating on shares of Xerox in a research report on Wednesday, January 31st. Loop Capital reaffirmed a “buy” rating on shares of Xerox in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. lowered their price objective on Xerox from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, February 13th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $35.72.
In other news, insider Carl C. Icahn sold 1,161,404 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $34.49, for a total transaction of $40,056,823.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carl C. Icahn sold 140,011 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $32.50, for a total value of $4,550,357.50. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.
Shares of Xerox Corp (NYSE XRX) opened at $30.55 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.57 and a current ratio of 1.91. The company has a market capitalization of $7,778.43, a P/E ratio of 8.99 and a beta of 1.13. Xerox Corp has a one year low of $26.64 and a one year high of $37.42.
Xerox (NYSE:XRX) last posted its quarterly earnings data on Wednesday, January 31st. The information technology services provider reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.08. The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.63 billion. Xerox had a return on equity of 17.13% and a net margin of 1.67%. The firm’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 EPS. equities research analysts predict that Xerox Corp will post 3.43 earnings per share for the current year.
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Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.
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