Atria Investments LLC reduced its stake in shares of Xerox Corp (NYSE:XRX) by 14.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,291 shares of the information technology services provider’s stock after selling 11,033 shares during the quarter. Atria Investments LLC’s holdings in Xerox were worth $1,789,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of XRX. Rampart Investment Management Company LLC raised its position in Xerox by 105.3% in the first quarter. Rampart Investment Management Company LLC now owns 6,095 shares of the information technology services provider’s stock worth $175,000 after acquiring an additional 3,126 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in Xerox by 221.7% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,676 shares of the information technology services provider’s stock worth $192,000 after acquiring an additional 4,601 shares in the last quarter. Ostrum Asset Management bought a new stake in Xerox in the first quarter worth about $215,000. Alpha Windward LLC raised its position in Xerox by 50.7% in the second quarter. Alpha Windward LLC now owns 8,405 shares of the information technology services provider’s stock worth $202,000 after acquiring an additional 2,826 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Xerox in the second quarter worth about $214,000. Institutional investors and hedge funds own 82.88% of the company’s stock.
Shares of Xerox stock opened at $25.22 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. Xerox Corp has a 52 week low of $23.52 and a 52 week high of $37.42. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 7.19 and a beta of 1.27.
Xerox (NYSE:XRX) last posted its quarterly earnings data on Thursday, July 26th. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.03). The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.49 billion. Xerox had a return on equity of 16.63% and a net margin of 1.22%. Xerox’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. As a group, analysts predict that Xerox Corp will post 3.3 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, September 27th. This represents a $1.00 annualized dividend and a yield of 3.97%. Xerox’s payout ratio is presently 28.74%.
Several brokerages have commented on XRX. ValuEngine cut shares of Xerox from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 26th. Zacks Investment Research upgraded shares of Xerox from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Standpoint Research upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. JPMorgan Chase & Co. dropped their price target on shares of Xerox from $38.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, July 27th. Finally, Citigroup began coverage on shares of Xerox in a research report on Friday, July 20th. They issued a “buy” rating and a $39.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $35.90.
In related news, Chairman Keith Cozza acquired 50,000 shares of the business’s stock in a transaction on Friday, July 27th. The shares were purchased at an average price of $25.42 per share, for a total transaction of $1,271,000.00. Following the acquisition, the chairman now owns 50,000 shares in the company, valued at $1,271,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Herve Tessler sold 16,567 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $26.03, for a total value of $431,239.01. Following the sale, the insider now owns 34,647 shares in the company, valued at approximately $901,861.41. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.
Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.
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