Dynamic Capital Management Ltd acquired a new stake in Xerox Corp (NYSE:XRX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,296 shares of the information technology services provider’s stock, valued at approximately $825,000. Xerox comprises approximately 4.1% of Dynamic Capital Management Ltd’s holdings, making the stock its 5th largest position.
A number of other large investors have also recently bought and sold shares of the business. Riverhead Capital Management LLC grew its holdings in Xerox by 172.2% during the second quarter. Riverhead Capital Management LLC now owns 231,241 shares of the information technology services provider’s stock valued at $8,188,000 after purchasing an additional 146,300 shares during the period. Pacer Advisors Inc. boosted its holdings in Xerox by 10.5% in the second quarter. Pacer Advisors Inc. now owns 78,356 shares of the information technology services provider’s stock valued at $2,775,000 after purchasing an additional 7,416 shares during the period. Bank of New York Mellon Corp boosted its holdings in Xerox by 0.4% in the second 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 purchasing an additional 25,931 shares during the period. Capital Fund Management S.A. boosted its holdings in Xerox by 134.9% in the second quarter. Capital Fund Management S.A. now owns 119,028 shares of the information technology services provider’s stock valued at $4,215,000 after purchasing an additional 68,347 shares during the period. Finally, Bank of Montreal Can boosted its holdings in Xerox by 41.3% in the second quarter. Bank of Montreal Can now owns 104,342 shares of the information technology services provider’s stock valued at $3,694,000 after purchasing an additional 30,502 shares during the period. 85.31% of the stock is owned by institutional investors.
In related news, EVP Herve Tessler sold 32,200 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $31.22, for a total transaction of $1,005,284.00. Following the sale, the executive vice president now owns 11,804 shares in the company, valued at $368,520.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by corporate insiders.
A number of analysts have weighed in on XRX shares. ValuEngine cut Xerox from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research cut Xerox from a “hold” rating to a “sell” rating and set a $32.00 price target on the stock. in a research note on Monday. Two 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. Xerox presently has a consensus rating of “Hold” and an average target price of $36.00.
Shares of Xerox stock traded up $0.34 during trading on Friday, hitting $30.81. 112,394 shares of the company were exchanged, compared to its average volume of 1,903,851. The firm has a 50 day moving average price of $29.88 and a 200 day moving average price of $32.37. 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 $7.03 billion, a price-to-earnings ratio of 8.90 and a beta of 1.76. Xerox Corp has a fifty-two week low of $18.58 and a fifty-two week high of $36.58.
Xerox (NYSE:XRX) last released its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. Xerox had a return on equity of 18.78% and a net margin of 5.76%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the firm posted $0.80 EPS. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. Analysts predict that Xerox Corp will post 3.89 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, September 27th. This represents a $1.00 annualized dividend and a yield of 3.25%. Xerox’s dividend payout ratio (DPR) 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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