Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Xerox Corporation (NYSE:XRX) by 75.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 213,083 shares of the information technology services provider’s stock after selling 666,591 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of Xerox Corporation worth $6,122,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Penserra Capital Management LLC bought a new stake in shares of Xerox Corporation in the second quarter worth $164,000. Federated Investors Inc. PA grew its stake in shares of Xerox Corporation by 378.0% in the second quarter. Federated Investors Inc. PA now owns 590,999 shares of the information technology services provider’s stock worth $16,980,000 after purchasing an additional 467,371 shares during the last quarter. United Asset Strategies Inc. grew its stake in shares of Xerox Corporation by 14.2% in the second quarter. United Asset Strategies Inc. now owns 16,611 shares of the information technology services provider’s stock worth $477,000 after purchasing an additional 2,061 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Xerox Corporation in the second quarter worth $537,000. Finally, JFS Wealth Advisors LLC bought a new stake in shares of Xerox Corporation in the second quarter worth $173,000. 83.93% of the stock is currently owned by institutional investors.
Shares of Xerox Corporation (XRX) traded down 0.52% during mid-day trading on Friday, reaching $32.64. 2,868,307 shares of the company’s stock were exchanged. The stock’s market cap is $8.30 billion. Xerox Corporation has a one year low of $22.90 and a one year high of $32.99. The company has a 50 day moving average price of $32.06 and a 200-day moving average price of $29.53.
Xerox Corporation (NYSE:XRX) last released its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 earnings per share. On average, analysts predict that Xerox Corporation will post $3.36 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a dividend of $0.25 per share. This is a positive change from Xerox Corporation’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, September 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.06%. Xerox Corporation’s payout ratio is presently 12.08%.
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Several brokerages recently weighed in on XRX. ValuEngine raised shares of Xerox Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Credit Suisse Group boosted their price objective on shares of Xerox Corporation from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. 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. Citigroup Inc. set a $39.00 price objective on shares of Xerox Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, Barclays PLC reissued an “equal weight” rating and issued a $35.00 price objective (up previously from $33.00) on shares of Xerox Corporation in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Xerox Corporation has an average rating of “Buy” and an average target price of $35.63.
Xerox Corporation Company 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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