Xerox Corporation (NYSE:XRX) had its price objective cut by investment analysts at UBS AG from $36.00 to $34.50 in a report issued on Friday, www.benzinga.com reports. The firm presently has a “neutral” rating on the information technology services provider’s stock. UBS AG’s price target would suggest a potential upside of 13.19% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Xerox Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. ValuEngine raised shares of Xerox Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub raised shares of Xerox Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Loop Capital started coverage on shares of Xerox Corporation in a research report on Monday, July 24th. They set a “buy” rating and a $36.00 price target for the company. Finally, Citigroup Inc. set a $39.00 price target on shares of Xerox Corporation and gave the company a “buy” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $35.50.

Shares of Xerox Corporation (XRX) traded down 0.55% during trading on Friday, hitting $30.48. 5,344,764 shares of the stock traded hands. The firm’s market cap is $7.75 billion. The company has a 50 day moving average price of $32.90 and a 200 day moving average price of $30.32. Xerox Corporation has a 12 month low of $22.90 and a 12 month high of $34.13.

Xerox Corporation (NYSE:XRX) last posted its earnings results on Thursday, October 26th. The information technology services provider reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.06. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the company posted $0.84 EPS. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. Analysts anticipate that Xerox Corporation will post $3.36 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Seven Eight Capital LP bought a new stake in Xerox Corporation during the second quarter valued at approximately $154,000. Penserra Capital Management LLC purchased a new position in Xerox Corporation during the second quarter valued at approximately $164,000. JFS Wealth Advisors LLC purchased a new position in Xerox Corporation during the second quarter valued at approximately $173,000. Risk Paradigm Group LLC purchased a new position in Xerox Corporation during the second quarter valued at approximately $176,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in Xerox Corporation during the second quarter valued at approximately $231,000. Institutional investors own 84.29% of the company’s stock.

About Xerox Corporation

Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.

Analyst Recommendations for Xerox Corporation (NYSE:XRX)

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