Becker Capital Management Inc. Has $53.05 Million Holdings in Xerox Corp (XRX)

Becker Capital Management Inc. boosted its stake in shares of Xerox Corp (NYSE:XRX) by 0.1% during the 3rd quarter, Holdings Channel reports. The fund owned 1,966,396 shares of the information technology services provider’s stock after purchasing an additional 1,931 shares during the period. Xerox accounts for about 1.7% of Becker Capital Management Inc.’s holdings, making the stock its 16th largest position. Becker Capital Management Inc.’s holdings in Xerox were worth $53,053,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of XRX. TRUE Private Wealth Advisors bought a new position in shares of Xerox during the third quarter valued at approximately $135,000. Truvestments Capital LLC bought a new position in shares of Xerox during the third quarter valued at approximately $160,000. Alpha Windward LLC grew its stake in shares of Xerox by 50.7% during the second quarter. Alpha Windward LLC now owns 8,405 shares of the information technology services provider’s stock valued at $202,000 after buying an additional 2,826 shares during the last quarter. Gamco Investors INC. ET AL bought a new position in shares of Xerox during the third quarter valued at approximately $212,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Xerox during the second quarter valued at approximately $214,000. 83.07% of the stock is currently owned by institutional investors.

XRX opened at $29.00 on Wednesday. The company has a market cap of $7.22 billion, a PE ratio of 8.33 and a beta of 1.13. Xerox Corp has a one year low of $23.52 and a one year high of $37.42. The company has a current ratio of 1.82, a quick ratio of 1.47 and a debt-to-equity ratio of 0.92.

Xerox (NYSE:XRX) last released its earnings results on Tuesday, October 23rd. The information technology services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Xerox had a return on equity of 16.50% and a net margin of 0.34%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 earnings per share. As a group, equities research analysts predict that Xerox Corp will post 3.42 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Monday, December 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.45%. Xerox’s payout ratio is 28.74%.

A number of research analysts have recently commented on XRX shares. Citigroup started coverage on Xerox in a research note on Friday, July 20th. They set a “buy” rating and a $39.00 target price on the stock. Zacks Investment Research raised Xerox from a “sell” rating to a “hold” rating in a research note on Thursday, September 20th. ValuEngine raised Xerox from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 24th. JPMorgan Chase & Co. cut their target price on Xerox from $38.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, July 27th. Finally, Standpoint Research raised Xerox from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $35.10.

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Xerox Profile

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.

Further Reading: Penny Stocks, Risk and Reward Factors

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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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