State Board of Administration of Florida Retirement System Sells 3,610 Shares of Xerox Corporation (XRX)

State Board of Administration of Florida Retirement System decreased its stake in Xerox Corporation (NYSE:XRX) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 387,225 shares of the information technology services provider’s stock after selling 3,610 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.15% of Xerox Corporation worth $12,891,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in shares of Xerox Corporation by 61.1% in the 2nd quarter. Principal Financial Group Inc. now owns 2,182,972 shares of the information technology services provider’s stock worth $62,715,000 after purchasing an additional 828,269 shares during the period. AXA boosted its holdings in shares of Xerox Corporation by 10.9% in the 2nd quarter. AXA now owns 1,438,621 shares of the information technology services provider’s stock worth $41,331,000 after purchasing an additional 141,790 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Xerox Corporation by 2.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 870,003 shares of the information technology services provider’s stock worth $28,965,000 after purchasing an additional 23,430 shares during the period. Federated Investors Inc. PA boosted its holdings in shares of Xerox Corporation by 378.0% in the 2nd 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 period. Finally, W. E. Donoghue & Co. LLC purchased a new position in Xerox Corporation during the 2nd quarter valued at $16,580,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Xerox Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. UBS AG dropped their price objective on Xerox Corporation from $36.00 to $34.50 and set a “neutral” rating for the company in a report on Friday, October 27th. Barclays PLC restated an “equal weight” rating and set a $35.00 price objective (up previously from $33.00) on shares of Xerox Corporation in a report on Tuesday, September 12th. ValuEngine upgraded Xerox Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, BidaskClub upgraded Xerox Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Xerox Corporation has a consensus rating of “Buy” and an average price target of $35.50.

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Shares of Xerox Corporation (XRX) opened at $29.17 on Friday. Xerox Corporation has a 1-year low of $25.84 and a 1-year high of $39.08. The firm has a market capitalization of $7,451.73, a price-to-earnings ratio of 8.71 and a beta of 1.14. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.63 and a quick ratio of 1.33.

Xerox Corporation (NYSE:XRX) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the business earned $0.84 EPS. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. sell-side analysts predict that Xerox Corporation will post 3.38 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Thursday, December 28th. Xerox Corporation’s dividend payout ratio is 48.31%.

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.

Institutional Ownership by Quarter for Xerox Corporation (NYSE:XRX)

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