Seven Eight Capital LP purchased a new stake in Xerox Corporation (NYSE:XRX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,349 shares of the information technology services provider’s stock, valued at approximately $154,000.

A number of other large investors have also recently made changes to their positions in the business. Cleararc Capital Inc. boosted its holdings in Xerox Corporation by 1.0% in the 1st quarter. Cleararc Capital Inc. now owns 20,881 shares of the information technology services provider’s stock valued at $153,000 after purchasing an additional 207 shares during the period. Advantus Capital Management Inc boosted its holdings in Xerox Corporation by 1.0% in the 1st quarter. Advantus Capital Management Inc now owns 85,826 shares of the information technology services provider’s stock valued at $630,000 after purchasing an additional 880 shares during the period. Arizona State Retirement System lifted its holdings in shares of Xerox Corporation by 0.4% during the 1st quarter. Arizona State Retirement System now owns 283,128 shares of the information technology services provider’s stock worth $2,078,000 after acquiring an additional 1,100 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Xerox Corporation by 0.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 142,437 shares of the information technology services provider’s stock worth $1,045,000 after acquiring an additional 1,203 shares during the last quarter. Finally, Mason Street Advisors LLC lifted its holdings in shares of Xerox Corporation by 1.3% during the 1st quarter. Mason Street Advisors LLC now owns 118,005 shares of the information technology services provider’s stock worth $866,000 after acquiring an additional 1,512 shares during the last quarter. 84.13% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on XRX shares. ValuEngine downgraded shares of Xerox Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Barclays PLC upgraded shares of Xerox Corporation from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $27.00 to $33.00 in a research report on Monday, July 24th. Loop Capital began coverage on shares of Xerox Corporation in a research report on Monday, July 24th. They issued a “buy” rating and a $36.00 target price on the stock. Zacks Investment Research cut shares of Xerox Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, BidaskClub upgraded shares of Xerox Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 20th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $35.63.

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Shares of Xerox Corporation (XRX) opened at 32.44 on Wednesday. The stock’s 50 day moving average is $32.16 and its 200-day moving average is $29.58. Xerox Corporation has a 52 week low of $22.90 and a 52 week high of $32.99. The company’s market cap is $8.25 billion.

Xerox Corporation (NYSE:XRX) last posted its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.03. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.60 billion. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The firm’s revenue was down 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 EPS. On average, equities analysts anticipate that Xerox Corporation will post $3.36 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.25 per share. This is an increase from Xerox Corporation’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, September 28th. This represents a $1.00 dividend on an annualized basis and a yield of 3.08%. Xerox Corporation’s dividend payout ratio (DPR) is 12.08%.

About Xerox Corporation

Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.

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Institutional Ownership by Quarter for Xerox Corporation (NYSE:XRX)

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