Xerox Corporation (XRX) Position Lowered by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board cut its stake in shares of Xerox Corporation (NYSE:XRX) by 76.2% during the second quarter, Holdings Channel reports. The firm owned 20,565 shares of the information technology services provider’s stock after selling 65,997 shares during the period. New Mexico Educational Retirement Board’s holdings in Xerox Corporation were worth $631,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of XRX. Cleararc Capital Inc. boosted its position in Xerox Corporation by 1.0% in the first quarter. Cleararc Capital Inc. now owns 20,881 shares of the information technology services provider’s stock valued at $153,000 after buying an additional 207 shares during the period. Xact Kapitalforvaltning AB boosted its stake in shares of Xerox Corporation by 0.3% in the first quarter. Xact Kapitalforvaltning AB now owns 149,314 shares of the information technology services provider’s stock worth $1,096,000 after buying an additional 459 shares during the last quarter. Teza Capital Management LLC boosted its stake in shares of Xerox Corporation by 2.3% in the first quarter. Teza Capital Management LLC now owns 23,866 shares of the information technology services provider’s stock worth $175,000 after buying an additional 533 shares during the last quarter. Canandaigua National Bank & Trust Co. boosted its stake in shares of Xerox Corporation by 1.8% in the first quarter. Canandaigua National Bank & Trust Co. now owns 33,141 shares of the information technology services provider’s stock worth $243,000 after buying an additional 600 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its stake in shares of Xerox Corporation by 0.5% in the first quarter. Capstone Asset Management Co. now owns 153,295 shares of the information technology services provider’s stock worth $1,125,000 after buying an additional 693 shares during the last quarter.

Shares of Xerox Corporation (XRX) opened at 32.41 on Thursday. Xerox Corporation has a 52-week low of $24.86 and a 52-week high of $32.99. The firm has a 50-day moving average of $30.40 and a 200-day moving average of $29.09. The stock’s market cap is $8.24 billion.

Xerox Corporation (NYSE:XRX) last announced its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.03. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.60 billion. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. On average, equities analysts expect that Xerox Corporation will post $3.36 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Thursday, September 28th. This is a positive change from Xerox Corporation’s previous quarterly dividend of $0.06. Xerox Corporation’s payout ratio is currently 12.08%.

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A number of brokerages recently weighed in on XRX. Credit Suisse Group raised their target price on shares of Xerox Corporation from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Loop Capital restated a “buy” rating and set a $38.00 target price (up from $36.00) on shares of Xerox Corporation in a report on Wednesday, August 2nd. ValuEngine cut shares of Xerox Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Citigroup Inc. set a $39.00 target price on shares of Xerox Corporation and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Barclays PLC upgraded shares of Xerox Corporation from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $27.00 to $33.00 in a report on Monday, July 24th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Xerox Corporation presently has an average rating of “Buy” and a consensus target price of $37.23.

About Xerox Corporation

Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment includes service offerings, such as BPO and Document Outsourcing (DO). It provides business services in markets across various industries and to government agencies.

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

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