Lingohr & Partner Asset Management GmbH reduced its holdings in Xerox Corporation (NYSE:XRX) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,718 shares of the information technology services provider’s stock after selling 2,400 shares during the quarter. Lingohr & Partner Asset Management GmbH’s holdings in Xerox Corporation were worth $868,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Principal Financial Group Inc. increased its holdings in Xerox Corporation by 6.8% in the third quarter. Principal Financial Group Inc. now owns 2,331,065 shares of the information technology services provider’s stock worth $77,600,000 after purchasing an additional 148,093 shares in the last quarter. AXA grew its stake in Xerox Corporation by 10.9% in the second quarter. AXA now owns 1,438,621 shares of the information technology services provider’s stock valued at $41,331,000 after acquiring an additional 141,790 shares during the period. Becker Capital Management Inc. acquired a new stake in Xerox Corporation in the third quarter valued at approximately $39,003,000. Robeco Institutional Asset Management B.V. grew its stake in Xerox Corporation by 2.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 870,003 shares of the information technology services provider’s stock valued at $28,965,000 after acquiring an additional 23,430 shares during the period. Finally, Swiss National Bank grew its stake in Xerox Corporation by 0.9% in the third quarter. Swiss National Bank now owns 794,314 shares of the information technology services provider’s stock valued at $26,443,000 after acquiring an additional 7,300 shares during the period. Institutional investors and hedge funds own 85.46% of the company’s stock.
Shares of Xerox Corporation (XRX) traded down $0.10 during trading hours on Monday, hitting $29.17. The company had a trading volume of 1,503,300 shares, compared to its average volume of 2,433,565. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.33 and a current ratio of 1.63. Xerox Corporation has a one year low of $25.84 and a one year high of $39.08. The stock has a market capitalization of $7,426.28, a PE ratio of 8.68 and a beta of 1.14.
Xerox Corporation (NYSE:XRX) last posted its quarterly earnings data on Thursday, October 26th. The information technology services provider reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.06. Xerox Corporation had a return on equity of 17.23% and a net margin of 5.29%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The business’s revenue was down 5.0% on a year-over-year basis. analysts anticipate that Xerox Corporation will post 3.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be given a $0.25 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.00 annualized dividend and a yield of 3.43%. Xerox Corporation’s dividend payout ratio is currently 48.31%.
A number of equities research analysts have commented on the company. Loop Capital reissued a “buy” rating and issued a $38.00 price objective (up previously from $36.00) on shares of Xerox Corporation in a research note on Wednesday, August 2nd. BidaskClub raised Xerox Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Credit Suisse Group raised their price objective on Xerox Corporation from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Barclays PLC raised Xerox Corporation from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $27.00 to $33.00 in a research note on Monday, July 24th. Finally, UBS AG assumed coverage on Xerox Corporation in a research note on Tuesday, October 3rd. They issued a “neutral” rating and a $36.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Xerox Corporation has a consensus rating of “Buy” and a consensus price target of $35.50.
Xerox Corporation Profile
Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.
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