Victory Capital Management Inc. decreased its position in shares of Xerox Corp. (NYSE:XRX) by 2.7% during the second quarter, Holdings Channel reports. The institutional investor owned 12,154 shares of the company’s stock after selling 336 shares during the period. Victory Capital Management Inc.’s holdings in Xerox Corp. were worth $115,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in XRX. CIBC World Markets Inc. acquired a new position in shares of Xerox Corp. during the second quarter worth approximately $101,000. Raymond James Trust N.A. increased its position in shares of Xerox Corp. by 10.2% in the second quarter. Raymond James Trust N.A. now owns 11,703 shares of the company’s stock worth $111,000 after buying an additional 1,088 shares in the last quarter. Ifrah Financial Services Inc. acquired a new position in shares of Xerox Corp. during the second quarter worth approximately $116,000. Shelton Capital Management increased its position in shares of Xerox Corp. by 19.4% in the second quarter. Shelton Capital Management now owns 12,310 shares of the company’s stock worth $117,000 after buying an additional 2,000 shares in the last quarter. Finally, Ropes Wealth Advisors LLC increased its position in shares of Xerox Corp. by 1,978.8% in the second quarter. Ropes Wealth Advisors LLC now owns 12,473 shares of the company’s stock worth $118,000 after buying an additional 11,873 shares in the last quarter. Institutional investors own 83.90% of the company’s stock.
Xerox Corp. (NYSE:XRX) traded up 0.150% during midday trading on Thursday, hitting $9.985. The company had a trading volume of 1,638,600 shares. The stock has a 50 day moving average price of $9.85 and a 200-day moving average price of $9.94. The stock has a market capitalization of $10.12 billion, a PE ratio of 26.070 and a beta of 1.29. Xerox Corp. has a 52 week low of $8.48 and a 52 week high of $11.39.
Xerox Corp. (NYSE:XRX) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. The company earned $4.40 billion during the quarter, compared to analyst estimates of $4.39 billion. Xerox Corp. had a return on equity of 12.36% and a net margin of 2.49%. The firm’s revenue for the quarter was down 69.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 earnings per share. On average, equities analysts predict that Xerox Corp. will post $1.13 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.0775 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.31 annualized dividend and a dividend yield of 3.11%. Xerox Corp.’s dividend payout ratio is currently 75.61%.
A number of brokerages recently commented on XRX. Zacks Investment Research downgraded Xerox Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Brean Capital reiterated a “hold” rating on shares of Xerox Corp. in a report on Monday, August 1st. BMO Capital Markets increased their price objective on Xerox Corp. from $10.00 to $10.50 and gave the stock a “market perform” rating in a report on Monday, August 1st. Vetr downgraded Xerox Corp. from a “strong-buy” rating to a “buy” rating and set a $10.47 price objective for the company. in a report on Tuesday. Finally, SunTrust Banks Inc. began coverage on Xerox Corp. in a report on Tuesday, September 13th. They issued a “buy” rating and a $13.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Xerox Corp. presently has a consensus rating of “Hold” and an average target price of $11.10.
In related news, Chairman Ursula M. Burns sold 3,317 shares of Xerox Corp. stock in a transaction on Monday, August 15th. The stock was sold at an average price of $9.85, for a total value of $32,672.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Herve Tessler sold 13,000 shares of Xerox Corp. stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $9.89, for a total value of $128,570.00. Following the completion of the transaction, the insider now owns 110,319 shares of the company’s stock, valued at $1,091,054.91. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.
About Xerox Corp.
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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