Russell Investments Group Ltd. decreased its holdings in Xerox Corp (NYSE:XRX) by 3.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 746,169 shares of the information technology services provider’s stock after selling 30,446 shares during the period. Russell Investments Group Ltd. owned about 0.29% of Xerox worth $20,128,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. TRUE Private Wealth Advisors acquired a new position in shares of Xerox in the 3rd quarter valued at about $135,000. Truvestments Capital LLC acquired a new position in shares of Xerox in the 3rd quarter valued at about $160,000. Alpha Windward LLC increased its holdings in shares of Xerox by 50.7% in the 2nd quarter. Alpha Windward LLC now owns 8,405 shares of the information technology services provider’s stock valued at $202,000 after purchasing an additional 2,826 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Xerox in the 2nd quarter valued at about $214,000. Finally, Cumberland Partners Ltd bought a new stake in shares of Xerox in the 2nd quarter valued at approximately $241,000. Institutional investors own 83.07% of the company’s stock.
Several equities research analysts recently commented on the company. Zacks Investment Research raised Xerox from a “sell” rating to a “hold” rating in a research note on Thursday, September 20th. Citigroup lowered their price target on Xerox from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, October 24th. ValuEngine raised Xerox from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 24th. JPMorgan Chase & Co. lowered their price target on Xerox from $38.00 to $35.00 and set a “hold” rating for the company 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $35.10.
Shares of NYSE XRX opened at $29.00 on Wednesday. The company has a market capitalization of $7.22 billion, a P/E ratio of 8.33 and a beta of 1.13. Xerox Corp has a 52 week low of $23.52 and a 52 week high of $37.42. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.82 and a quick ratio of 1.47.
Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, October 23rd. The information technology services provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.07. The business had revenue of $2.35 billion during 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 firm’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. As a group, equities analysts forecast that Xerox Corp will post 3.42 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 28th. This represents a $1.00 dividend on an annualized basis and a yield of 3.45%. Xerox’s payout ratio is currently 28.74%.
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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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