PGGM Investments cut its stake in shares of Xerox Corp. (NYSE:XRX) by 5.8% during the second quarter, Holdings Channel reports. The firm owned 711,009 shares of the company’s stock after selling 44,012 shares during the period. PGGM Investments’ holdings in Xerox Corp. were worth $6,747,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Legal & General Group Plc raised its stake in shares of Xerox Corp. by 1.0% in the first quarter. Legal & General Group Plc now owns 5,206,164 shares of the company’s stock valued at $58,105,000 after buying an additional 54,068 shares during the period. Geode Capital Management LLC raised its stake in shares of Xerox Corp. by 2.4% in the first quarter. Geode Capital Management LLC now owns 9,516,399 shares of the company’s stock valued at $106,030,000 after buying an additional 219,384 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Xerox Corp. by 4.7% in the first quarter. Panagora Asset Management Inc. now owns 8,273,775 shares of the company’s stock valued at $92,335,000 after buying an additional 371,056 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in shares of Xerox Corp. by 1.2% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 816,977 shares of the company’s stock valued at $7,753,000 after buying an additional 9,927 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Xerox Corp. by 14.1% in the second quarter. Nisa Investment Advisors LLC now owns 138,281 shares of the company’s stock valued at $1,312,000 after buying an additional 17,100 shares during the period. 83.90% of the stock is currently owned by hedge funds and other institutional investors.
Xerox Corp. (NYSE:XRX) traded down 0.49% on Friday, reaching $10.13. 7,677,388 shares of the company’s stock were exchanged. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 26.45 and a beta of 1.36. Xerox Corp. has a 52 week low of $8.48 and a 52 week high of $11.39. The stock’s 50 day moving average is $9.83 and its 200 day moving average is $9.96.
Xerox Corp. (NYSE:XRX) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. The business earned $4.40 billion during the quarter, compared to the consensus estimate of $4.39 billion. Xerox Corp. had a return on equity of 12.36% and a net margin of 2.49%. Xerox Corp.’s revenue for the quarter was down 69.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 earnings per share. On average, equities analysts anticipate that Xerox Corp. will post $1.13 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a $0.0775 dividend. This represents a $0.31 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Wednesday, September 28th. Xerox Corp.’s dividend payout ratio (DPR) is presently 75.61%.
Several research firms have recently weighed in on XRX. SunTrust Banks Inc. began coverage on shares of Xerox Corp. in a report on Tuesday, September 13th. They issued a “buy” rating and a $13.00 target price on the stock. Piper Jaffray Cos. reaffirmed an “overweight” rating on shares of Xerox Corp. in a report on Saturday, July 2nd. Brean Capital reaffirmed a “hold” rating on shares of Xerox Corp. in a report on Monday, August 1st. Zacks Investment Research lowered shares of Xerox Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Finally, Barclays PLC reaffirmed an “underweight” rating and issued a $11.00 target price (up previously from $10.00) on shares of Xerox Corp. in a report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Xerox Corp. currently has a consensus rating of “Hold” and an average price target of $11.05.
In other Xerox Corp. news, insider Herve Tessler sold 13,000 shares of Xerox Corp. stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $9.89, for a total value of $128,570.00. Following the transaction, the insider now owns 110,319 shares in the company, valued at $1,091,054.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Ursula M. Burns sold 3,317 shares of Xerox Corp. stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $9.85, for a total value of $32,672.45. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.
Xerox Corp. Company Profile
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 comprises two types of service offerings: Business Process Outsourcing (BPO) and Document Outsourcing (DO).
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