Russell Investments Group Ltd. decreased its holdings in Xerox Corp (NYSE:XRX) by 71.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 144,550 shares of the information technology services provider’s stock after selling 356,027 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Xerox worth $5,117,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in XRX. Gradient Investments LLC lifted its stake in shares of Xerox by 751.0% in the second quarter. Gradient Investments LLC now owns 834 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 736 shares in the last quarter. Coastal Investment Advisors Inc. bought a new stake in Xerox in the second quarter valued at about $32,000. CWM LLC increased its holdings in Xerox by 57.9% in the second quarter. CWM LLC now owns 982 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 360 shares during the last quarter. NuWave Investment Management LLC increased its holdings in Xerox by 422.1% in the second quarter. NuWave Investment Management LLC now owns 1,227 shares of the information technology services provider’s stock valued at $43,000 after buying an additional 992 shares during the last quarter. Finally, Hanseatic Management Services Inc. bought a new stake in Xerox in the first quarter valued at about $149,000. Institutional investors and hedge funds own 85.31% of the company’s stock.
Several analysts recently weighed in on the company. Zacks Investment Research lowered Xerox from a “hold” rating to a “sell” rating and set a $32.00 price objective for the company. in a report on Monday, September 9th. ValuEngine lowered Xerox from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $36.00.
In related news, EVP Herve Tessler sold 32,200 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $31.22, for a total value of $1,005,284.00. Following the completion of the sale, the executive vice president now directly owns 11,804 shares of the company’s stock, valued at $368,520.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by insiders.
Xerox stock traded up $0.35 during midday trading on Friday, hitting $30.82. The stock had a trading volume of 1,315,793 shares, compared to its average volume of 1,846,123. The company has a current ratio of 1.33, a quick ratio of 1.09 and a debt-to-equity ratio of 0.79. The stock has a market cap of $7.02 billion, a P/E ratio of 8.91 and a beta of 1.76. Xerox Corp has a 12 month low of $18.58 and a 12 month high of $36.58. The business has a fifty day moving average price of $29.81 and a 200 day moving average price of $32.37.
Xerox (NYSE:XRX) last announced its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.06. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. Xerox had a return on equity of 18.78% and a net margin of 5.76%. Xerox’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 earnings per share. On average, equities analysts anticipate that Xerox Corp will post 3.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Friday, September 27th. Xerox’s dividend payout ratio is currently 28.90%.
Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.
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