LSV Asset Management decreased its stake in Xerox Corp. (NYSE:XRX) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,668,288 shares of the company’s stock after selling 200,139 shares during the period. LSV Asset Management owned about 2.53% of Xerox Corp. worth $243,592,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of XRX. Janney Montgomery Scott LLC boosted its stake in Xerox Corp. by 143.8% in the second quarter. Janney Montgomery Scott LLC now owns 224,438 shares of the company’s stock valued at $2,272,000 after buying an additional 132,377 shares during the last quarter. Ifrah Financial Services Inc. purchased a new stake in shares of Xerox Corp. during the second quarter worth $116,000. Glenmede Trust Co. NA boosted its stake in shares of Xerox Corp. by 11.2% in the second quarter. Glenmede Trust Co. NA now owns 3,083,187 shares of the company’s stock worth $29,258,000 after buying an additional 311,308 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Xerox Corp. by 0.4% in the second quarter. First Trust Advisors LP now owns 1,254,186 shares of the company’s stock worth $11,902,000 after buying an additional 4,930 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Xerox Corp. during the second quarter worth $431,000. Hedge funds and other institutional investors own 83.90% of the company’s stock.
Shares of Xerox Corp. (NYSE:XRX) traded up 0.654% on Thursday, reaching $10.005. The company had a trading volume of 3,175,722 shares. The stock has a 50 day moving average price of $9.81 and a 200-day moving average price of $9.98. Xerox Corp. has a 12 month low of $8.48 and a 12 month high of $11.39. The company has a market capitalization of $10.14 billion, a price-to-earnings ratio of 26.123 and a beta of 1.36.
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, beating analysts’ consensus estimates of $0.25 by $0.05. Xerox Corp. had a return on equity of 12.36% and a net margin of 2.49%. The firm earned $4.40 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the firm earned $0.22 EPS. Xerox Corp.’s quarterly revenue was down 69.8% on a year-over-year basis. Analysts forecast that Xerox Corp. will post $1.13 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.0775 per share. This represents a $0.31 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Wednesday, September 28th. Xerox Corp.’s dividend payout ratio is presently 75.61%.
A number of equities research analysts have weighed in on XRX shares. Brean Capital reiterated a “hold” rating on shares of Xerox Corp. in a research note on Monday, June 6th. Zacks Investment Research cut Xerox Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Piper Jaffray Cos. reiterated an “overweight” rating on shares of Xerox Corp. in a research note on Saturday, July 2nd. BMO Capital Markets boosted their price objective on Xerox Corp. from $10.00 to $10.50 and gave the company a “market perform” rating in a research note on Monday, August 1st. Finally, Barclays PLC reiterated an “underweight” rating and issued a $11.00 price objective (up previously from $10.00) on shares of Xerox Corp. in a research note on Tuesday, August 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.05.
In other Xerox Corp. news, Chairman Ursula M. Burns sold 3,317 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $9.85, for a total transaction of $32,672.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Herve Tessler sold 13,000 shares of the stock in a transaction that occurred on 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 directly owns 110,319 shares in the company, valued at approximately $1,091,054.91. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.
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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