PGGM Investments reduced its stake in shares of Xerox Corporation (NYSE:XRX) by 75.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,937 shares of the information technology services provider’s stock after selling 484,946 shares during the period. PGGM Investments owned 0.06% of Xerox Corporation worth $4,451,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in Xerox Corporation by 1,831.5% in the first quarter. BlackRock Inc. now owns 69,513,636 shares of the information technology services provider’s stock valued at $510,230,000 after buying an additional 65,914,755 shares during the last quarter. Alliancebernstein L.P. raised its position in Xerox Corporation by 11.1% in the first quarter. Alliancebernstein L.P. now owns 29,712,397 shares of the information technology services provider’s stock valued at $218,089,000 after buying an additional 2,968,922 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Xerox Corporation by 25.0% in the first quarter. Dimensional Fund Advisors LP now owns 16,726,444 shares of the information technology services provider’s stock valued at $122,775,000 after buying an additional 3,341,049 shares during the last quarter. Geode Capital Management LLC raised its position in Xerox Corporation by 17.5% in the first quarter. Geode Capital Management LLC now owns 12,632,535 shares of the information technology services provider’s stock valued at $92,637,000 after buying an additional 1,881,180 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Xerox Corporation by 2.6% in the first quarter. Renaissance Technologies LLC now owns 11,704,289 shares of the information technology services provider’s stock valued at $85,909,000 after buying an additional 291,800 shares during the last quarter.
Xerox Corporation (NYSE XRX) traded up 0.70% during mid-day trading on Friday, hitting $31.66. 1,739,045 shares of the stock were exchanged. Xerox Corporation has a one year low of $22.90 and a one year high of $32.99. The company’s market cap is $8.05 billion. The company has a 50-day moving average price of $30.00 and a 200-day moving average price of $28.96.
Xerox Corporation (NYSE:XRX) last issued its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.60 billion. Xerox Corporation had a return on equity of 15.28% and a net margin of 4.55%. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. On average, analysts predict that Xerox Corporation will post $3.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.16%. This is a positive change from Xerox Corporation’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, September 28th. Xerox Corporation’s dividend payout ratio is presently 12.08%.
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Several research analysts recently commented on XRX shares. ValuEngine lowered shares of Xerox Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Barclays PLC upgraded shares of Xerox Corporation from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $27.00 to $33.00 in a report on Monday, July 24th. Loop Capital started coverage on shares of Xerox Corporation in a report on Monday, July 24th. They issued a “buy” rating and a $36.00 price target on the stock. Zacks Investment Research upgraded shares of Xerox Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, BidaskClub upgraded shares of Xerox Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 20th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Xerox Corporation currently has a consensus rating of “Buy” and an average target price of $37.23.
Xerox Corporation Company Profile
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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