Xerox Corp (XRX) Shares Sold by Atria Investments LLC
Atria Investments LLC lessened its holdings in shares of Xerox Corp (NYSE:XRX) by 14.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 66,291 shares of the information technology services provider’s stock after selling 11,033 shares during the period. Atria Investments LLC’s holdings in Xerox were worth $1,789,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan grew its stake in Xerox by 62.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 24,497 shares of the information technology services provider’s stock valued at $588,000 after acquiring an additional 9,400 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Xerox by 20.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 12,850 shares of the information technology services provider’s stock valued at $308,000 after buying an additional 2,174 shares in the last quarter. Levin Capital Strategies L.P. grew its stake in shares of Xerox by 280.6% in the 2nd quarter. Levin Capital Strategies L.P. now owns 184,592 shares of the information technology services provider’s stock valued at $4,430,000 after buying an additional 136,098 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in shares of Xerox by 39.1% in the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 137,625 shares of the information technology services provider’s stock valued at $3,303,000 after buying an additional 38,700 shares in the last quarter. Finally, Sanders Morris Harris LLC bought a new stake in shares of Xerox in the 2nd quarter valued at approximately $4,177,000. 82.88% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on XRX shares. Zacks Investment Research raised Xerox from a “sell” rating to a “hold” rating in a research note on Thursday, September 20th. JPMorgan Chase & Co. lowered their price target on Xerox from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, July 27th. Citigroup started coverage on Xerox in a research note on Friday, July 20th. They issued a “buy” rating and a $39.00 price target for the company. Standpoint Research raised Xerox from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Finally, ValuEngine cut Xerox from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.90.
Xerox (NYSE:XRX) last announced its quarterly earnings results on Thursday, July 26th. The information technology services provider reported $0.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.03). The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.49 billion. Xerox had a net margin of 1.22% and a return on equity of 16.63%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 EPS. As a group, equities analysts forecast that Xerox Corp will post 3.3 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Friday, September 28th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 27th. This represents a $1.00 annualized dividend and a dividend yield of 3.97%. Xerox’s payout ratio is 28.74%.
In related news, Chairman Keith Cozza bought 50,000 shares of the firm’s stock in a transaction on Friday, July 27th. The stock was purchased at an average price of $25.42 per share, with a total value of $1,271,000.00. Following the completion of the transaction, the chairman now directly owns 50,000 shares of the company’s stock, valued at $1,271,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Herve Tessler sold 16,567 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $26.03, for a total value of $431,239.01. Following the sale, the insider now directly owns 34,647 shares of the company’s stock, valued at approximately $901,861.41. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.
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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