Xerox Corp. (XRX) Position Cut by Nationwide Fund Advisors
Nationwide Fund Advisors reduced its position in shares of Xerox Corp. (NYSE:XRX) by 80.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 320,487 shares of the company’s stock after selling 1,287,984 shares during the period. Nationwide Fund Advisors’ holdings in Xerox Corp. were worth $3,041,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc increased its position in shares of Xerox Corp. by 1.0% in the first quarter. Legal & General Group Plc now owns 5,206,164 shares of the company’s stock worth $58,105,000 after buying an additional 54,068 shares during the period. Geode Capital Management LLC increased its position in shares of Xerox Corp. by 2.4% in the first quarter. Geode Capital Management LLC now owns 9,516,399 shares of the company’s stock worth $106,030,000 after buying an additional 219,384 shares during the period. Panagora Asset Management Inc. increased its position in shares of Xerox Corp. by 4.7% in the first quarter. Panagora Asset Management Inc. now owns 8,273,775 shares of the company’s stock worth $92,335,000 after buying an additional 371,056 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in shares of Xerox Corp. by 1.2% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 816,977 shares of the company’s stock worth $7,753,000 after buying an additional 9,927 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Xerox Corp. by 14.1% in the second quarter. Nisa Investment Advisors LLC now owns 138,281 shares of the company’s stock worth $1,312,000 after buying an additional 17,100 shares during the period. Hedge funds and other institutional investors own 83.90% of the company’s stock.
Shares of Xerox Corp. (NYSE:XRX) traded down 1.10% on Friday, reaching $9.90. The company’s stock had a trading volume of 5,154,884 shares. The company’s 50-day moving average is $9.87 and its 200 day moving average is $9.94. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 25.85 and a beta of 1.29. Xerox Corp. has a 12-month low of $8.48 and a 12-month high of $11.39.
Xerox Corp. (NYSE:XRX) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Xerox Corp. had a return on equity of 12.36% and a net margin of 2.49%. The firm earned $4.40 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the business earned $0.22 earnings per share. The company’s revenue was down 69.8% on a year-over-year basis. Equities analysts anticipate that Xerox Corp. will post $1.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be paid a $0.0775 dividend. This represents a $0.31 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Wednesday, September 28th. Xerox Corp.’s dividend payout ratio is currently 75.61%.
XRX has been the subject of a number of recent analyst reports. SunTrust Banks Inc. initiated coverage on Xerox Corp. in a research note on Tuesday, September 13th. They issued a “buy” rating and a $13.00 price objective for the company. Piper Jaffray Cos. restated an “overweight” rating on shares of Xerox Corp. in a research note on Saturday, July 2nd. Vetr downgraded Xerox Corp. from a “strong-buy” rating to a “buy” rating and set a $10.47 price target for the company. in a research note on Tuesday. Zacks Investment Research downgraded Xerox Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Finally, Brean Capital reiterated a “hold” rating on shares of Xerox Corp. in a research note on Monday, August 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $11.10.
In other news, insider Herve Tessler sold 13,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $9.89, for a total value of $128,570.00. Following the completion of the transaction, the insider now owns 110,319 shares in the company, valued at $1,091,054.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ursula M. Burns sold 3,317 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $9.85, for a total value of $32,672.45. The disclosure for this sale can be found here. 0.37% of the stock is owned by insiders.
Xerox Corp. Company Profile
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 comprises two types of service offerings: Business Process Outsourcing (BPO) and Document Outsourcing (DO).
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