Swiss National Bank lessened its position in Xerox (NYSE:XRX) by 13.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 690,814 shares of the information technology services provider’s stock after selling 103,500 shares during the period. Swiss National Bank’s holdings in Xerox were worth $19,882,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Xerox by 5.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,224,772 shares of the information technology services provider’s stock worth $64,029,000 after acquiring an additional 113,100 shares during the period. ARGI Investment Services LLC lifted its stake in shares of Xerox by 5.7% in the 1st quarter. ARGI Investment Services LLC now owns 87,983 shares of the information technology services provider’s stock worth $2,532,000 after acquiring an additional 4,713 shares during the period. Boston Partners acquired a new stake in shares of Xerox in the 1st quarter worth $180,292,000. Bank of Hawaii lifted its stake in shares of Xerox by 23.9% in the 1st quarter. Bank of Hawaii now owns 23,827 shares of the information technology services provider’s stock worth $686,000 after acquiring an additional 4,595 shares during the period. Finally, Trexquant Investment LP lifted its stake in shares of Xerox by 145.8% in the 1st quarter. Trexquant Investment LP now owns 56,871 shares of the information technology services provider’s stock worth $1,637,000 after acquiring an additional 33,732 shares during the period. Institutional investors own 88.41% of the company’s stock.
Shares of Xerox opened at $28.19 on Monday, according to MarketBeat.com. The company has a quick ratio of 1.39, a current ratio of 1.71 and a debt-to-equity ratio of 0.86. Xerox has a 52 week low of $27.11 and a 52 week high of $37.42. The stock has a market capitalization of $7.18 billion, a P/E ratio of 8.10 and a beta of 1.18.
Xerox (NYSE:XRX) last posted its earnings results on Thursday, May 3rd. The information technology services provider reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.05). Xerox had a net margin of 1.74% and a return on equity of 17.08%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the business posted $0.15 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. research analysts anticipate that Xerox will post 3.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Friday, March 30th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 28th. This represents a $1.00 annualized dividend and a yield of 3.55%. Xerox’s dividend payout ratio (DPR) is currently 28.74%.
XRX has been the subject of several recent analyst reports. JPMorgan Chase reduced their price objective on shares of Xerox from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, February 13th. Zacks Investment Research cut shares of Xerox from a “buy” rating to a “hold” rating in a research note on Saturday, April 7th. UBS upgraded shares of Xerox from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Loop Capital reiterated a “buy” rating on shares of Xerox in a research note on Thursday, February 1st. Finally, Standpoint Research reiterated a “hold” rating on shares of Xerox in a research note on Wednesday, January 31st. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Xerox currently has a consensus rating of “Buy” and a consensus price target of $35.81.
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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