Cullen Frost Bankers Inc. increased its position in shares of Xerox Corp (NYSE:XRX) by 118.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,062 shares of the information technology services provider’s stock after buying an additional 11,949 shares during the period. Cullen Frost Bankers Inc.’s holdings in Xerox were worth $661,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Gradient Investments LLC increased its holdings in Xerox by 751.0% during the second quarter. Gradient Investments LLC now owns 834 shares of the information technology services provider’s stock worth $30,000 after buying an additional 736 shares during the last quarter. Coastal Investment Advisors Inc. bought a new position in Xerox during the second quarter worth $32,000. CWM LLC boosted its position in Xerox by 57.9% during the second quarter. CWM LLC now owns 982 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 360 shares during the period. NuWave Investment Management LLC boosted its position in Xerox by 422.1% during the second quarter. NuWave Investment Management LLC now owns 1,227 shares of the information technology services provider’s stock worth $43,000 after purchasing an additional 992 shares during the period. Finally, North Star Investment Management Corp. bought a new position in Xerox during the third quarter worth $37,000. Institutional investors and hedge funds own 85.05% of the company’s stock.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Xerox from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective for the company in a research report on Sunday, November 3rd. ValuEngine cut shares of Xerox from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. cut shares of Xerox from a “neutral” rating to an “underweight” rating and set a $31.00 price objective for the company. in a research report on Wednesday, October 30th. Finally, Credit Suisse Group lifted their price objective on shares of Xerox from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Xerox currently has a consensus rating of “Hold” and a consensus price target of $36.67.
In other Xerox news, EVP Herve Tessler sold 32,200 shares of Xerox stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $31.22, for a total transaction of $1,005,284.00. Following the completion of the transaction, the executive vice president now directly owns 11,804 shares of the company’s stock, valued at $368,520.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.19% of the company’s stock.
XRX stock opened at $38.85 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 0.91. The company has a fifty day moving average price of $31.02 and a two-hundred day moving average price of $32.01. Xerox Corp has a one year low of $18.58 and a one year high of $39.38. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 11.23 and a beta of 1.79.
Xerox (NYSE:XRX) last released its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.22. Xerox had a net margin of 7.28% and a return on equity of 19.62%. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the business posted $0.85 earnings per share. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. Research analysts anticipate that Xerox Corp will post 4.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.00 dividend on an annualized basis and a yield of 2.57%. Xerox’s dividend payout ratio (DPR) is 28.90%.
Xerox Company Profile
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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