Employees Retirement System of Texas decreased its holdings in Xerox Corporation (NYSE:XRX) by 89.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,360 shares of the information technology services provider’s stock after selling 116,080 shares during the period. Employees Retirement System of Texas’ holdings in Xerox Corporation were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Teachers Advisors LLC increased its stake in shares of Xerox Corporation by 25.8% during the first quarter. Teachers Advisors LLC now owns 8,289,357 shares of the information technology services provider’s stock valued at $60,844,000 after buying an additional 1,698,883 shares during the period. AXA increased its stake in shares of Xerox Corporation by 10.9% during the second quarter. AXA now owns 1,438,621 shares of the information technology services provider’s stock valued at $41,331,000 after buying an additional 141,790 shares during the period. Cowen Inc. purchased a new position in shares of Xerox Corporation during the second quarter valued at $1,372,000. Principal Financial Group Inc. increased its stake in shares of Xerox Corporation by 61.1% during the second quarter. Principal Financial Group Inc. now owns 2,182,972 shares of the information technology services provider’s stock valued at $62,715,000 after buying an additional 828,269 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Xerox Corporation by 23.3% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 51,800 shares of the information technology services provider’s stock valued at $380,000 after buying an additional 9,800 shares during the period. Institutional investors and hedge funds own 84.14% of the company’s stock.

Xerox Corporation (NYSE:XRX) opened at 33.10 on Friday. The stock’s market cap is $8.41 billion. The firm has a 50-day moving average price of $32.81 and a 200 day moving average price of $30.17. Xerox Corporation has a 1-year low of $22.90 and a 1-year high of $34.13.

Xerox Corporation (NYSE:XRX) last issued its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.03. Xerox Corporation had a return on equity of 15.28% and a net margin of 4.55%. 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 prior year, the business earned $0.26 EPS. Xerox Corporation’s revenue was down 8.1% on a year-over-year basis. On average, equities research analysts anticipate that Xerox Corporation will post $3.36 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.00 annualized dividend and a yield of 3.02%. Xerox Corporation’s dividend payout ratio (DPR) is 48.31%.

Several equities analysts have recently commented on XRX shares. Zacks Investment Research lowered Xerox Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Barclays PLC restated a “sell” rating and set a $27.00 price target on shares of Xerox Corporation in a research note on Friday, June 23rd. ValuEngine upgraded Xerox Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub upgraded Xerox Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Loop Capital started coverage on Xerox Corporation in a research note on Monday, July 24th. They set a “buy” rating and a $36.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Xerox Corporation currently has an average rating of “Buy” and a consensus target price of $35.67.

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Xerox Corporation Company Profile

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.

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

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