Shares of Xerox Corporation (NYSE:XRX) have earned an average rating of “Buy” from the sixteen ratings firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $37.23.

XRX has been the topic of several recent analyst reports. ValuEngine raised Xerox Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Morgan Stanley decreased their price target on Xerox Corporation from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 26th. Credit Suisse Group boosted their price target on Xerox Corporation from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Loop Capital reaffirmed a “buy” rating and issued a $38.00 price target (up previously from $36.00) on shares of Xerox Corporation in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research raised Xerox Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th.

A number of institutional investors have recently modified their holdings of the stock. Chevy Chase Trust Holdings Inc. increased its position in shares of Xerox Corporation by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 745,886 shares of the information technology services provider’s stock valued at $5,475,000 after buying an additional 23,591 shares during the last quarter. Quantbot Technologies LP increased its position in shares of Xerox Corporation by 2,285.2% in the first quarter. Quantbot Technologies LP now owns 88,779 shares of the information technology services provider’s stock valued at $651,000 after buying an additional 85,057 shares during the last quarter. Cadence Capital Management LLC increased its position in shares of Xerox Corporation by 33.9% in the first quarter. Cadence Capital Management LLC now owns 719,078 shares of the information technology services provider’s stock valued at $5,278,000 after buying an additional 182,063 shares during the last quarter. Arizona State Retirement System increased its position in shares of Xerox Corporation by 0.4% in the first quarter. Arizona State Retirement System now owns 283,128 shares of the information technology services provider’s stock valued at $2,078,000 after buying an additional 1,100 shares during the last quarter. Finally, Tredje AP fonden increased its position in shares of Xerox Corporation by 29.3% in the first quarter. Tredje AP fonden now owns 306,395 shares of the information technology services provider’s stock valued at $2,268,000 after buying an additional 69,483 shares during the last quarter.

Xerox Corporation (NYSE:XRX) traded up 0.70% during midday trading on Friday, hitting $31.66. The company had a trading volume of 1,739,045 shares. The company’s market cap is $8.05 billion. The company’s 50 day moving average is $30.11 and its 200-day moving average is $28.99. Xerox Corporation has a one year low of $22.90 and a one year high of $32.99.

Xerox Corporation (NYSE:XRX) last announced its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.03. Xerox Corporation had a return on equity of 15.28% and a net margin of 4.55%. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter last year, the firm earned $0.26 EPS. Xerox Corporation’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, equities analysts predict that Xerox Corporation will post $3.36 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a $0.25 dividend. This is an increase from Xerox Corporation’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, September 28th. This represents a $1.00 annualized dividend and a yield of 3.16%. Xerox Corporation’s payout ratio is presently 12.08%.

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About Xerox Corporation

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 includes service offerings, such as BPO and Document Outsourcing (DO). It provides business services in markets across various industries and to government agencies.

Analyst Recommendations for Xerox Corporation (NYSE:XRX)

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