Boltwood Capital Management purchased a new position in shares of Xerox Corp (NYSE:XRX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,522 shares of the information technology services provider’s stock, valued at approximately $368,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Water Island Capital LLC boosted its holdings in Xerox by 27.8% during the fourth quarter. Water Island Capital LLC now owns 347,913 shares of the information technology services provider’s stock worth $6,875,000 after buying an additional 75,751 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. boosted its holdings in Xerox by 3.9% during the third quarter. Eubel Brady & Suttman Asset Management Inc. now owns 272,493 shares of the information technology services provider’s stock worth $7,352,000 after buying an additional 10,221 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Xerox by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 230,077 shares of the information technology services provider’s stock worth $6,207,000 after buying an additional 7,379 shares in the last quarter. Goldentree Asset Management LP purchased a new position in Xerox during the third quarter valued at $14,434,000. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new position in Xerox during the fourth quarter valued at $763,000. 85.15% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:XRX opened at $33.01 on Tuesday. Xerox Corp has a twelve month low of $18.58 and a twelve month high of $33.10. The stock has a market capitalization of $7.35 billion, a PE ratio of 9.54 and a beta of 1.70. The company has a current ratio of 1.44, a quick ratio of 1.19 and a debt-to-equity ratio of 0.85.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Thursday, March 28th. Xerox’s dividend payout ratio is presently 28.90%.
Several equities analysts have issued reports on XRX shares. Zacks Investment Research downgraded shares of Xerox from a “hold” rating to a “sell” rating in a report on Saturday, February 2nd. ValuEngine raised shares of Xerox from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. TheStreet raised shares of Xerox from a “c+” rating to a “b-” rating in a report on Friday, February 22nd. Finally, Standpoint Research downgraded shares of Xerox from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $35.25.
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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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