Xerox Corporation (NYSE:XRX) Shares Sold by World Asset Management Inc

World Asset Management Inc lowered its position in shares of Xerox Corporation (NYSE:XRX) by 78.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,535 shares of the information technology services provider’s stock after selling 78,209 shares during the period. World Asset Management Inc’s holdings in Xerox Corporation were worth $619,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of 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 worth $510,230,000 after buying an additional 65,914,755 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of 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 worth $218,089,000 after buying an additional 2,968,922 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 worth $122,775,000 after buying an additional 3,341,049 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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 worth $92,637,000 after buying an additional 1,881,180 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of 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 worth $85,909,000 after buying an additional 291,800 shares in the last quarter.

Shares of Xerox Corporation (NYSE XRX) traded down 1.26% during trading on Friday, reaching $31.45. 1,866,100 shares of the company’s stock were exchanged. Xerox Corporation has a 52-week low of $22.90 and a 52-week high of $32.99. The stock’s 50 day moving average price is $30.54 and its 200-day moving average price is $29.14. The stock’s market cap is $7.99 billion.

Xerox Corporation (NYSE:XRX) last posted its earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share for the quarter, topping 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 analyst estimates of $2.60 billion. During the same period in the previous year, the firm posted $0.26 EPS. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, equities research analysts forecast that Xerox Corporation will post $3.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued 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 a positive change from Xerox Corporation’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, September 28th. Xerox Corporation’s payout ratio is presently 12.08%.

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XRX has been the subject of a number of research analyst reports. ValuEngine lowered shares of Xerox Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Barclays PLC raised shares of Xerox Corporation from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $27.00 to $33.00 in a research report on Monday, July 24th. Loop Capital initiated coverage on shares of Xerox Corporation in a research report on Monday, July 24th. They issued a “buy” rating and a $36.00 price target for the company. Zacks Investment Research raised shares of Xerox Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, BidaskClub raised shares of Xerox Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 20th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Xerox Corporation currently has a consensus rating of “Buy” and a consensus 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.

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

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