Paloma Partners Management Co acquired a new stake in Xerox Corp (NYSE:XRX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 253,304 shares of the information technology services provider’s stock, valued at approximately $7,385,000. Paloma Partners Management Co owned approximately 0.10% of Xerox as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in XRX. D.A. Davidson & CO. purchased a new position in Xerox in the 4th quarter valued at $202,000. Advisor Partners LLC purchased a new position in Xerox in the 4th quarter valued at $204,000. Conning Inc. purchased a new position in Xerox in the 4th quarter valued at $215,000. Contravisory Investment Management Inc. lifted its holdings in Xerox by 10,970.1% in the 4th quarter. Contravisory Investment Management Inc. now owns 7,417 shares of the information technology services provider’s stock valued at $216,000 after purchasing an additional 7,350 shares in the last quarter. Finally, Keybank National Association OH purchased a new position in Xerox in the 3rd quarter valued at $233,000. Institutional investors own 85.84% of the company’s stock.
Shares of Xerox Corp (NYSE:XRX) opened at $29.92 on Monday. Xerox Corp has a 52 week low of $26.64 and a 52 week high of $37.42. The stock has a market capitalization of $7,619.83, a price-to-earnings ratio of 47.49 and a beta of 1.20. The company has a quick ratio of 1.57, a current ratio of 1.91 and a debt-to-equity ratio of 0.99.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, March 30th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Wednesday, March 28th. Xerox’s dividend payout ratio (DPR) is presently 158.73%.
A number of brokerages have weighed in on XRX. Standpoint Research restated a “hold” rating on shares of Xerox in a report on Wednesday, January 31st. Loop Capital restated a “buy” rating on shares of Xerox in a report on Thursday, February 1st. UBS Group restated a “hold” rating and issued a $34.50 price objective on shares of Xerox in a report on Tuesday, December 5th. Zacks Investment Research downgraded Xerox from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Finally, JPMorgan Chase & Co. cut their target price on Xerox from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, February 13th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $35.72.
In related news, insider Carl C. Icahn sold 1,161,404 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $34.49, for a total transaction of $40,056,823.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carl C. Icahn sold 140,011 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $32.50, for a total value of $4,550,357.50. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.
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.
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