OppenheimerFunds Inc. lifted its holdings in shares of Xerox Corp (NYSE:XRX) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,713 shares of the information technology services provider’s stock after buying an additional 2,529 shares during the period. OppenheimerFunds Inc.’s holdings in Xerox were worth $1,595,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of XRX. Nationwide Fund Advisors boosted its position in shares of Xerox by 1.4% during the third quarter. Nationwide Fund Advisors now owns 113,587 shares of the information technology services provider’s stock worth $3,781,000 after buying an additional 1,597 shares during the period. State of Wisconsin Investment Board boosted its position in shares of Xerox by 67.0% during the third quarter. State of Wisconsin Investment Board now owns 275,492 shares of the information technology services provider’s stock worth $9,171,000 after buying an additional 110,544 shares during the period. American Century Companies Inc. boosted its position in shares of Xerox by 1.3% during the third quarter. American Century Companies Inc. now owns 169,794 shares of the information technology services provider’s stock worth $5,652,000 after buying an additional 2,237 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Xerox by 132.9% during the third quarter. Daiwa Securities Group Inc. now owns 13,391 shares of the information technology services provider’s stock worth $446,000 after buying an additional 7,641 shares during the period. Finally, Keybank National Association OH acquired a new position in shares of Xerox during the third quarter worth approximately $233,000. Institutional investors and hedge funds own 85.84% of the company’s stock.
XRX has been the subject of several analyst reports. Zacks Investment Research upgraded Xerox from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Saturday, February 10th. UBS Group raised Xerox from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Loop Capital reissued a “buy” rating on shares of Xerox in a report on Thursday, February 1st. Standpoint Research reissued a “hold” rating on shares of Xerox in a report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. dropped their target price on Xerox from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, February 13th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Xerox currently has an average rating of “Buy” and an average price target of $35.72.
Shares of Xerox Corp (NYSE XRX) opened at $31.34 on Wednesday. Xerox Corp has a twelve month low of $26.64 and a twelve month high of $37.42. The company has a market capitalization of $7,980.00, a P/E ratio of 14.12 and a beta of 1.20. The company has a current ratio of 1.91, a quick ratio of 1.57 and a debt-to-equity ratio of 0.99.
Xerox (NYSE:XRX) last announced its earnings results on Wednesday, January 31st. The information technology services provider reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.08. Xerox had a return on equity of 17.13% and a net margin of 1.67%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the previous year, the company earned $1.00 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. analysts expect that Xerox Corp will post 3.43 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, March 30th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 3.19%. Xerox’s dividend payout ratio is currently 45.05%.
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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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