Xerox Corporation (NYSE:XRX) Shares Sold by Creative Planning

Creative Planning cut its stake in shares of Xerox Corporation (NYSE:XRX) by 75.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,262 shares of the information technology services provider’s stock after selling 21,984 shares during the period. Creative Planning’s holdings in Xerox Corporation were worth $209,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new position in Xerox Corporation during the first quarter valued at about $106,000. United Asset Strategies Inc. acquired a new stake in shares of Xerox Corporation during the first quarter worth approximately $107,000. Cypress Wealth Advisors LLC boosted its position 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 in the last quarter. National Asset Management Inc. purchased a new position in Xerox Corporation during the first quarter valued at about $113,000. Finally, Ronald Blue & Co. LLC purchased a new position in Xerox Corporation during the first quarter valued at about $121,000.

Shares of Xerox Corporation (NYSE XRX) opened at 31.45 on Friday. The company’s 50-day moving average is $30.54 and its 200-day moving average is $29.14. Xerox Corporation has a 12 month low of $24.86 and a 12 month high of $32.99. The firm’s market cap is $7.99 billion.

Xerox Corporation (NYSE:XRX) last released its earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.03. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.60 billion. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share. On average, equities research analysts forecast that Xerox Corporation will post $3.35 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.25 dividend. This is an increase from Xerox Corporation’s previous quarterly dividend of $0.06. This represents a $1.00 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Thursday, September 28th. Xerox Corporation’s dividend payout ratio (DPR) is 12.08%.

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Several research analysts have weighed in on XRX shares. Morgan Stanley lowered their target price on shares of Xerox Corporation from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 26th. ValuEngine upgraded shares of Xerox Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Zacks Investment Research lowered shares of Xerox Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $34.00 price target on shares of Xerox Corporation in a research report on Wednesday, April 26th. Finally, BidaskClub upgraded shares of Xerox Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 20th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Xerox Corporation presently has an average rating of “Buy” and an average target price 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.

Institutional Ownership by Quarter for Xerox Corporation (NYSE:XRX)

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