DekaBank Deutsche Girozentrale reduced its stake in shares of Xerox Corporation (NYSE:XRX) by 66.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,063,919 shares of the information technology services provider’s stock after selling 2,061,802 shares during the period. DekaBank Deutsche Girozentrale owned 0.42% of Xerox Corporation worth $30,992,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of XRX. Venturi Wealth Management LLC purchased a new stake in Xerox Corporation during the first quarter valued at about $106,000. United Asset Strategies Inc. purchased a new stake in Xerox Corporation during the first quarter valued at about $107,000. Cypress Wealth Advisors LLC boosted its stake in Xerox Corporation by 42.8% in the first quarter. Cypress Wealth Advisors LLC now owns 15,035 shares of the information technology services provider’s stock valued at $110,000 after buying an additional 4,508 shares during the period. National Asset Management Inc. purchased a new stake in Xerox Corporation during the first quarter valued at about $113,000. Finally, Ronald Blue & Co. LLC purchased a new stake in Xerox Corporation during the first quarter valued at about $121,000.
Shares of Xerox Corporation (NYSE XRX) opened at 31.44 on Friday. The company’s 50-day moving average is $30.00 and its 200 day moving average is $28.96. Xerox Corporation has a 52 week low of $22.90 and a 52 week high of $32.99. The firm’s market capitalization is $7.99 billion.
Xerox Corporation (NYSE:XRX) last posted its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.03. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the prior year, the firm posted $0.26 EPS. The firm’s revenue was down 8.1% compared to the same quarter last year. Analysts anticipate that Xerox Corporation will post $3.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.18%. This is an increase from Xerox Corporation’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, September 28th. Xerox Corporation’s dividend payout ratio is 12.08%.
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Several equities research analysts have recently issued reports on XRX shares. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $34.00 price objective on shares of Xerox Corporation in a research report on Wednesday, April 26th. 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 objective for the company. Citigroup Inc. set a $39.00 price objective on shares of Xerox Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Barclays PLC raised shares of Xerox Corporation from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $27.00 to $33.00 in a research report on Monday, July 24th. Finally, BidaskClub raised shares of Xerox Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $37.23.
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.
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