Boston Partners cut its stake in shares of Xerox Corp (NYSE:XRX) by 21.1% during the 4th quarter, HoldingsChannel reports. The fund owned 7,490,426 shares of the information technology services provider’s stock after selling 1,998,421 shares during the period. Boston Partners’ holdings in Xerox were worth $148,011,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BBT Capital Management LLC bought a new position in shares of Xerox in the fourth quarter valued at $846,000. Virginia Retirement Systems ET AL bought a new position in shares of Xerox in the fourth quarter valued at $848,000. Weatherstone Capital Management bought a new position in shares of Xerox in the fourth quarter valued at $462,000. Oregon Public Employees Retirement Fund lifted its stake in shares of Xerox by 46.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 109,074 shares of the information technology services provider’s stock valued at $2,155,000 after buying an additional 34,834 shares in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd bought a new position in shares of Xerox in the fourth quarter valued at $818,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Xerox from a “sell” rating to a “hold” rating in a research note on Saturday, February 9th. ValuEngine upgraded shares of Xerox from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. Finally, Citigroup lowered their target price on shares of Xerox from $37.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, October 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $35.25.
Shares of XRX stock opened at $30.65 on Wednesday. The stock has a market capitalization of $7.36 billion, a PE ratio of 8.86 and a beta of 1.65. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.44 and a quick ratio of 1.19. Xerox Corp has a one year low of $18.58 and a one year high of $32.31.
Xerox (NYSE:XRX) last announced its earnings results on Tuesday, January 29th. The information technology services provider reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.02). The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Xerox had a net margin of 3.67% and a return on equity of 16.81%. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 EPS. On average, equities research analysts anticipate that Xerox Corp will post 3.76 earnings per share for the current fiscal year.
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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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