Deason Darwin Declares Ownership of Stake in Xerox Corp (XRX)

Deason Darwin

revealed that they own a 6% stake in Xerox Corp (NYSE:XRX) in a Form 13D disclosure that was filed with the Securities and Exchange Commission on Wednesday, January 17th. The investor owns 15,322,341 shares of the stock worth approximately $495,677,731. The filing is available through Edgar at this hyperlink.

A number of other institutional investors also recently made changes to their positions in the business. Seven Eight Capital LP bought a new stake in shares of Xerox in the second quarter valued at approximately $154,000. Risk Paradigm Group LLC bought a new stake in shares of Xerox in the second quarter valued at approximately $176,000. W.G. Shaheen & Associates DBA Whitney & Co bought a new stake in shares of Xerox in the second quarter valued at approximately $231,000. Keybank National Association OH bought a new stake in shares of Xerox in the third quarter valued at approximately $233,000. Finally, Sun Life Financial INC boosted its position in shares of Xerox by 3,998.1% in the second quarter. Sun Life Financial INC now owns 8,688 shares of the information technology services provider’s stock valued at $250,000 after acquiring an additional 8,476 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Shares of Xerox Corp (XRX) traded down $0.42 during mid-day trading on Wednesday, reaching $32.35. The company had a trading volume of 1,731,500 shares, compared to its average volume of 2,072,050. The company has a market capitalization of $8,120.00, a PE ratio of 15.26 and a beta of 1.13. Xerox Corp has a 52-week low of $26.48 and a 52-week high of $34.13. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.33 and a current ratio of 1.63.

Xerox (NYSE:XRX) last issued its earnings results on Thursday, October 26th. The information technology services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.83 by $0.06. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Xerox had a return on equity of 17.23% and a net margin of 5.29%. Xerox’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period last year, the business earned $0.84 earnings per share. research analysts anticipate that Xerox Corp will post 3.38 EPS for the current fiscal year.

In other Xerox news, EVP Herve Tessler sold 6,000 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $28.59, for a total transaction of $171,540.00. Following the completion of the transaction, the executive vice president now directly owns 35,878 shares in the company, valued at $1,025,752.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Several research analysts recently commented on XRX shares. UBS Group started coverage on Xerox in a research report on Tuesday, October 3rd. They issued a “neutral” rating and a $36.00 target price for the company. Zacks Investment Research raised Xerox from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $35.21.

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Xerox Company Profile

Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.

Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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