Envestnet Asset Management Inc. Has $452,000 Stake in Xerox Corp (XRX)
Envestnet Asset Management Inc. lessened its position in Xerox Corp (NYSE:XRX) by 25.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,498 shares of the information technology services provider’s stock after selling 5,264 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Xerox were worth $452,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in XRX. Stifel Financial Corp lifted its holdings in shares of Xerox by 7.9% in the 3rd quarter. Stifel Financial Corp now owns 111,917 shares of the information technology services provider’s stock worth $3,709,000 after acquiring an additional 8,203 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Xerox in the 3rd quarter worth about $438,000. California Public Employees Retirement System lifted its holdings in shares of Xerox by 1.8% in the 3rd quarter. California Public Employees Retirement System now owns 714,372 shares of the information technology services provider’s stock worth $23,781,000 after acquiring an additional 12,484 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in Xerox by 10.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 58,328 shares of the information technology services provider’s stock valued at $1,942,000 after buying an additional 5,316 shares in the last quarter. Finally, Atria Investments LLC lifted its holdings in Xerox by 16.3% during the 4th quarter. Atria Investments LLC now owns 94,611 shares of the information technology services provider’s stock valued at $2,758,000 after buying an additional 13,270 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.
In other news, insider Carl C. Icahn sold 1,161,404 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $34.49, for a total value of $40,056,823.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Carl C. Icahn sold 140,011 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $32.50, for a total transaction of $4,550,357.50. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.
Xerox (NYSE:XRX) last posted its quarterly earnings results on Wednesday, January 31st. The information technology services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.96 by $0.08. Xerox had a net margin of 1.67% and a return on equity of 17.13%. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the previous year, the business posted $1.00 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. research analysts forecast that Xerox Corp will post 3.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, March 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 3.44%. Xerox’s dividend payout ratio is currently 28.74%.
A number of brokerages recently weighed in on XRX. JPMorgan Chase decreased their price objective on shares of Xerox from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, February 13th. Loop Capital reiterated a “buy” rating on shares of Xerox in a report on Thursday, February 1st. ValuEngine lowered shares of Xerox from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Standpoint Research reiterated a “hold” rating on shares of Xerox in a report on Wednesday, January 31st. Finally, Zacks Investment Research upgraded shares of Xerox from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Saturday, February 10th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $35.72.
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Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.
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