NJ State Employees Deferred Compensation Plan decreased its stake in Xerox Corporation (NYSE:XRX) by 75.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,000 shares of the information technology services provider’s stock after selling 33,000 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Xerox Corporation were worth $316,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hartford Investment Management Co. raised its stake in Xerox Corporation by 23.4% in the first quarter. Hartford Investment Management Co. now owns 565,163 shares of the information technology services provider’s stock valued at $4,148,000 after buying an additional 107,015 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Xerox Corporation by 5.2% in the first quarter. Nisa Investment Advisors LLC now owns 175,281 shares of the information technology services provider’s stock valued at $1,287,000 after buying an additional 8,600 shares during the last quarter. Boston Advisors LLC acquired a new stake in Xerox Corporation during the first quarter valued at about $8,719,000. Reliance Trust Co. of Delaware raised its stake in Xerox Corporation by 18.6% in the first quarter. Reliance Trust Co. of Delaware now owns 52,647 shares of the information technology services provider’s stock valued at $387,000 after buying an additional 8,255 shares during the last quarter. Finally, BLB&B Advisors LLC raised its stake in Xerox Corporation by 93.1% in the first quarter. BLB&B Advisors LLC now owns 75,790 shares of the information technology services provider’s stock valued at $556,000 after buying an additional 36,540 shares during the last quarter.

Xerox Corporation (NYSE XRX) opened at 32.30 on Thursday. The company’s market capitalization is $8.21 billion. Xerox Corporation has a 1-year low of $22.90 and a 1-year high of $32.99. The firm’s 50-day moving average is $29.90 and its 200-day moving average is $28.94.

Xerox Corporation (NYSE:XRX) last posted its quarterly 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 the consensus estimate of $2.60 billion. During the same quarter in the previous year, the company earned $0.26 earnings per share. The business’s revenue was down 8.1% compared to the same quarter last year. Equities research analysts predict that Xerox Corporation will post $3.36 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.25 per share. 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 an increase from Xerox Corporation’s previous quarterly dividend of $0.06. Xerox Corporation’s payout ratio is currently 12.08%.

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XRX has been the subject of several recent research 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 objective 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 objective 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. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Xerox Corporation currently has a consensus rating of “Buy” and an average 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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Institutional Ownership by Quarter for Xerox Corporation (NYSE:XRX)

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