PGGM Investments lowered 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 fund owned 154,937 shares of the information technology services provider’s stock after selling 484,946 shares during the period. PGGM Investments owned approximately 0.06% of Xerox Corporation worth $4,451,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. raised its stake in Xerox Corporation by 10.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 4,666,950 shares of the information technology services provider’s stock valued at $40,743,000 after buying an additional 431,945 shares during the last quarter. Teachers Advisors LLC raised its stake in Xerox Corporation by 17.9% in the fourth quarter. Teachers Advisors LLC now owns 6,590,474 shares of the information technology services provider’s stock valued at $57,535,000 after buying an additional 1,001,042 shares during the last quarter. Kentucky Retirement Systems acquired a new stake in Xerox Corporation during the fourth quarter worth $539,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Xerox Corporation during the fourth quarter worth $241,000. Finally, Chevy Chase Trust Holdings Inc. raised its stake in Xerox Corporation by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 745,886 shares of the information technology services provider’s stock worth $5,475,000 after buying an additional 23,591 shares during the last quarter.
Shares of Xerox Corporation (XRX) traded down 1.26% during mid-day trading on Friday, reaching $31.45. The company’s stock had a trading volume of 1,866,100 shares. The company’s market capitalization is $7.99 billion. Xerox Corporation has a 1-year low of $22.90 and a 1-year high of $32.99. The company’s 50 day moving average price is $30.54 and its 200-day moving average price is $29.14.
Xerox Corporation (NYSE:XRX) last announced its earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the business earned $0.26 EPS. The company’s revenue was down 8.1% on a year-over-year basis. Analysts predict that Xerox Corporation will post $3.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a dividend of $0.25 per share. This is a boost 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 payout ratio is currently 12.08%.
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XRX has been the topic of a number of recent analyst reports. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $34.00 target price on shares of Xerox Corporation in a research note on Wednesday, April 26th. Morgan Stanley dropped their price target on Xerox Corporation from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 26th. Zacks Investment Research downgraded Xerox Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. ValuEngine downgraded Xerox Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub raised 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’s stock. The stock currently 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.
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