Nationwide Fund Advisors lifted its stake in Xerox Corp (NYSE:XRX) by 1.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,587 shares of the information technology services provider’s stock after buying an additional 1,597 shares during the quarter. Nationwide Fund Advisors’ holdings in Xerox were worth $3,781,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Seven Eight Capital LP purchased a new stake in shares of Xerox in the second quarter worth about $154,000. Penserra Capital Management LLC purchased a new stake in shares of Xerox in the second quarter worth about $164,000. Risk Paradigm Group LLC purchased a new stake in shares of Xerox in the second quarter worth about $176,000. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in shares of Xerox in the second quarter worth about $231,000. Finally, Columbia Asset Management purchased a new stake in shares of Xerox in the second quarter worth about $245,000. Hedge funds and other institutional investors own 84.03% of the company’s stock.
A number of analysts have recently commented on XRX shares. Zacks Investment Research downgraded Xerox from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. UBS lowered their target price on Xerox from $36.00 to $34.50 and set a “neutral” rating on the stock in a research note on Friday, October 27th. ValuEngine upgraded Xerox from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Barclays restated an “equal weight” rating and issued a $35.00 target price (up previously from $33.00) on shares of Xerox in a research note on Tuesday, September 12th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $35.50.
Xerox Corp (XRX) traded up $0.35 during midday trading on Friday, reaching $29.65. The company had a trading volume of 4,320,000 shares, compared to its average volume of 2,096,392. The firm has a market cap of $7,548.47, a PE ratio of 8.82 and a beta of 1.12. Xerox Corp has a 12 month low of $24.86 and a 12 month high of $34.13. The company has a quick ratio of 1.33, a current ratio of 1.63 and a debt-to-equity ratio of 0.97.
Xerox (NYSE:XRX) last released its quarterly earnings results on Thursday, October 26th. The information technology services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.06. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Xerox had a return on equity of 17.23% and a net margin of 5.29%. Xerox’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. equities analysts anticipate that Xerox Corp will post 3.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a $0.25 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a yield of 3.37%. Xerox’s payout ratio is 48.31%.
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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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