Xerox Corporation (XRX) Stake Decreased by Stoneridge Investment Partners LLC
Stoneridge Investment Partners LLC reduced its position in Xerox Corporation (NYSE:XRX) by 69.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,635 shares of the information technology services provider’s stock after selling 331,244 shares during the period. Stoneridge Investment Partners LLC’s holdings in Xerox Corporation were worth $4,184,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. Kentucky Retirement Systems purchased a new position in Xerox Corporation during the fourth quarter worth $539,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Xerox Corporation during the fourth quarter worth $241,000. Chevy Chase Trust Holdings Inc. raised its position 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. Manning & Napier Advisors LLC raised its position in Xerox Corporation by 14.1% in the first quarter. Manning & Napier Advisors LLC now owns 156,247 shares of the information technology services provider’s stock worth $1,146,000 after buying an additional 19,277 shares during the last quarter. Finally, Creative Planning raised its position in Xerox Corporation by 36.9% in the first quarter. Creative Planning now owns 29,246 shares of the information technology services provider’s stock worth $214,000 after buying an additional 7,884 shares during the last quarter.
Xerox Corporation (NYSE XRX) opened at 32.31 on Wednesday. The company’s market cap is $8.21 billion. Xerox Corporation has a 12 month low of $22.90 and a 12 month high of $32.99. The company’s 50 day moving average is $29.57 and its 200-day moving average is $28.83.
Xerox Corporation (NYSE:XRX) last released its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.60 billion. During the same quarter last year, the company earned $0.26 EPS. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, analysts expect that Xerox Corporation will post $3.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.00 dividend on an annualized basis and a yield of 3.10%. This is a boost from Xerox Corporation’s previous quarterly dividend of $0.06. Xerox Corporation’s dividend payout ratio (DPR) is currently 12.08%.
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XRX has been the subject of a number of recent analyst reports. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $34.00 price target on shares of Xerox Corporation in a research report on Wednesday, April 26th. Morgan Stanley dropped their price target on shares of Xerox Corporation from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, April 26th. Zacks Investment Research lowered shares of Xerox Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. ValuEngine lowered shares of Xerox Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Xerox Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 20th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus 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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