DekaBank Deutsche Girozentrale reduced its position in Xerox Corporation (NYSE:XRX) by 66.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,063,919 shares of the information technology services provider’s stock after selling 2,061,802 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Xerox Corporation were worth $30,992,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of XRX. Chevy Chase Trust Holdings Inc. increased 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 increased 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. Creative Planning increased 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. Gulf International Bank UK Ltd increased its position in Xerox Corporation by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 268,008 shares of the information technology services provider’s stock worth $1,967,000 after buying an additional 3,200 shares during the last quarter. Finally, Bank of Montreal Can increased its position in Xerox Corporation by 42.3% in the first quarter. Bank of Montreal Can now owns 469,654 shares of the information technology services provider’s stock worth $3,447,000 after buying an additional 139,535 shares during the last quarter.

Shares of Xerox Corporation (XRX) opened at 31.44 on Friday. The firm’s market cap is $7.99 billion. Xerox Corporation has a 12-month low of $22.90 and a 12-month high of $32.99. The company has a 50 day moving average of $30.00 and a 200-day moving average of $28.96.

Xerox Corporation (NYSE:XRX) last issued its earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 EPS for the quarter, beating the Thomson Reuters’ 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 company 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 EPS. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. Equities research analysts forecast that Xerox Corporation will post $3.36 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Thursday, September 28th. 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 topic of a number of recent research reports. Goldman Sachs Group, Inc. (The) restated 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 reduced their price target on shares of Xerox Corporation from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 26th. Zacks Investment Research downgraded shares of Xerox Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. ValuEngine downgraded 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 equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target 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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