Xerox (NYSE:XRX) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.
A number of other research analysts have also commented on XRX. Zacks Investment Research lowered shares of Xerox from a “buy” rating to a “hold” rating in a research note on Saturday, April 7th. Standpoint Research reiterated a “hold” rating on shares of Xerox in a research note on Wednesday, January 31st. Loop Capital restated a “buy” rating on shares of Xerox in a research report on Thursday, February 1st. UBS upgraded shares of Xerox from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Finally, JPMorgan Chase decreased their target price on shares of Xerox from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $35.72.
Shares of XRX opened at $31.54 on Friday. Xerox has a 52 week low of $26.64 and a 52 week high of $37.42. The stock has a market capitalization of $8,032.42, a P/E ratio of 9.06 and a beta of 1.19. The company has a current ratio of 1.91, a quick ratio of 1.57 and a debt-to-equity ratio of 0.99.
Xerox (NYSE:XRX) last announced its quarterly earnings results on Wednesday, January 31st. The information technology services provider reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.08. Xerox had a net margin of 1.67% and a return on equity of 17.13%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the prior year, the business earned $1.00 EPS. Xerox’s quarterly revenue was up .5% on a year-over-year basis. equities analysts expect that Xerox will post 3.43 earnings per share for the current year.
In other Xerox news, insider Carl C. Icahn sold 1,161,404 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $34.49, for a total transaction of $40,056,823.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $4,550,357.50. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of XRX. TIAA CREF Investment Management LLC boosted its position in shares of Xerox by 31.4% during the 4th quarter. TIAA CREF Investment Management LLC now owns 3,979,223 shares of the information technology services provider’s stock worth $115,994,000 after acquiring an additional 951,355 shares in the last quarter. Eaton Vance Management boosted its position in shares of Xerox by 4,628.4% during the 4th quarter. Eaton Vance Management now owns 823,450 shares of the information technology services provider’s stock worth $24,004,000 after acquiring an additional 806,035 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of Xerox by 13.8% during the 4th quarter. Guggenheim Capital LLC now owns 2,654,855 shares of the information technology services provider’s stock worth $77,390,000 after acquiring an additional 320,976 shares in the last quarter. Millennium Management LLC boosted its position in shares of Xerox by 123.5% during the 4th quarter. Millennium Management LLC now owns 500,554 shares of the information technology services provider’s stock worth $14,591,000 after acquiring an additional 276,630 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Xerox during the 4th quarter worth approximately $7,385,000. Institutional investors and hedge funds own 85.78% of the company’s stock.
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Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.
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