Corient Capital Partners LLC lowered its position in shares of Xerox Corp (NYSE:XRX) by 8.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,808 shares of the information technology services provider’s stock after selling 3,708 shares during the period. Corient Capital Partners LLC’s holdings in Xerox were worth $1,409,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Gradient Investments LLC lifted its holdings in Xerox by 751.0% in the second quarter. Gradient Investments LLC now owns 834 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 736 shares during the period. Coastal Investment Advisors Inc. purchased a new stake in shares of Xerox in the second quarter valued at approximately $32,000. CWM LLC increased its position in shares of 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 in the last quarter. NuWave Investment Management LLC increased its position in shares of 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 in the last quarter. Finally, Hanseatic Management Services Inc. purchased a new stake in shares of Xerox during the first quarter worth approximately $149,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.
In other news, EVP Herve Tessler sold 32,200 shares of Xerox stock in a transaction 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 completion of 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 document filed with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.
Several analysts recently commented on the company. 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 for the company. in a report on Monday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Xerox currently has an average rating of “Hold” and a consensus target price of $36.00.
Xerox stock opened at $30.78 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.09 and a debt-to-equity ratio of 0.79. The stock has a 50 day moving average of $29.88 and a two-hundred day moving average of $32.37. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 8.90 and a beta of 1.76. Xerox Corp has a twelve month low of $18.58 and a twelve month high of $36.58.
Xerox (NYSE:XRX) last issued its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.06. The firm had revenue of $2.29 billion during 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%. Xerox’s revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. Equities analysts predict that Xerox Corp will post 3.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.25%. The ex-dividend date is Friday, September 27th. Xerox’s payout ratio is 28.90%.
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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