State of Alaska Department of Revenue decreased its position in Xerox Corp (NYSE:XRX) by 7.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,035 shares of the information technology services provider’s stock after selling 3,618 shares during the period. State of Alaska Department of Revenue’s holdings in Xerox were worth $1,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Xerox by 3.8% during the 2nd quarter. Vanguard Group Inc. now owns 23,234,473 shares of the information technology services provider’s stock valued at $822,734,000 after buying an additional 852,620 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Xerox by 21.5% during the 2nd quarter. AQR Capital Management LLC now owns 7,337,000 shares of the information technology services provider’s stock valued at $258,262,000 after buying an additional 1,300,415 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Xerox by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,000,505 shares of the information technology services provider’s stock valued at $247,888,000 after buying an additional 25,931 shares during the last quarter. Invesco Ltd. raised its stake in shares of Xerox by 22.8% during the 2nd quarter. Invesco Ltd. now owns 6,208,273 shares of the information technology services provider’s stock valued at $219,834,000 after buying an additional 1,153,427 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Xerox by 256.7% during the 2nd quarter. APG Asset Management N.V. now owns 3,973,815 shares of the information technology services provider’s stock valued at $123,562,000 after buying an additional 2,859,700 shares during the last quarter. Institutional investors and hedge funds own 84.72% of the company’s stock.
XRX has been the topic of a number of analyst reports. ValuEngine cut Xerox from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Zacks Investment Research cut Xerox from a “hold” rating to a “sell” rating and set a $32.00 target price on the stock. in a research report on Monday, September 9th. 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 company. The company has an average rating of “Hold” and an average target price of $36.00.
NYSE:XRX opened at $29.41 on Friday. Xerox Corp has a 52 week low of $18.58 and a 52 week high of $36.58. The company has a quick ratio of 1.09, a current ratio of 1.33 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $6.46 billion, a PE ratio of 8.50 and a beta of 1.77. The stock’s 50-day moving average price is $29.61 and its 200-day moving average price is $32.18.
Xerox (NYSE:XRX) last issued its earnings results on Tuesday, July 30th. The information technology services provider reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.06. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Xerox had a return on equity of 18.78% and a net margin of 5.76%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 EPS. Sell-side analysts expect that Xerox Corp will post 3.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Friday, September 27th. Xerox’s payout ratio is 28.90%.
In other Xerox news, EVP Herve Tessler sold 32,200 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now 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 the SEC website. 0.19% of the stock is owned by insiders.
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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