Eaton Vance Management decreased its position in Xerox Corp (NYSE:XRX) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,208,570 shares of the information technology services provider’s stock after selling 66,521 shares during the period. Eaton Vance Management’s holdings in Xerox were worth $59,587,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan raised its position in Xerox by 62.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 24,497 shares of the information technology services provider’s stock valued at $588,000 after purchasing an additional 9,400 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Xerox by 20.4% in the second quarter. Janney Montgomery Scott LLC now owns 12,850 shares of the information technology services provider’s stock valued at $308,000 after purchasing an additional 2,174 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Xerox by 83.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 22,477 shares of the information technology services provider’s stock valued at $539,000 after purchasing an additional 10,231 shares during the last quarter. TD Asset Management Inc. raised its position in Xerox by 8.5% in the second quarter. TD Asset Management Inc. now owns 231,026 shares of the information technology services provider’s stock valued at $5,545,000 after purchasing an additional 18,080 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in Xerox by 130.4% in the second quarter. Commonwealth Equity Services LLC now owns 47,863 shares of the information technology services provider’s stock valued at $1,149,000 after purchasing an additional 27,091 shares during the last quarter. 89.74% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on the company. Zacks Investment Research upgraded Xerox from a “sell” rating to a “hold” rating in a research report on Thursday, September 20th. Citigroup decreased their price target on Xerox from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, October 24th. Finally, ValuEngine raised Xerox from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $35.10.
Xerox (NYSE:XRX) last issued its quarterly earnings results on Tuesday, October 23rd. The information technology services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Xerox had a return on equity of 16.50% and a net margin of 0.34%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 earnings per share. As a group, research analysts predict that Xerox Corp will post 3.42 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Monday, December 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.00 annualized dividend and a dividend yield of 3.71%. Xerox’s payout ratio is 28.74%.
In other news, insider Michael David Feldman sold 3,729 shares of the stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $29.00, for a total value of $108,141.00. Following the completion of the sale, the insider now owns 2,869 shares of the company’s stock, valued at $83,201. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.19% of the company’s stock.
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Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.
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