Levin Capital Strategies L.P. cut its position in shares of Xerox Corp (NYSE:XRX) by 13.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,575 shares of the information technology services provider’s stock after selling 25,752 shares during the period. Levin Capital Strategies L.P.’s holdings in Xerox were worth $3,390,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Legacy Bridge LLC purchased a new stake in shares of Xerox in the 4th quarter valued at approximately $30,000. First Mercantile Trust Co. raised its stake in shares of Xerox by 62.7% in the 4th quarter. First Mercantile Trust Co. now owns 2,570 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 990 shares during the period. San Francisco Sentry Investment Group CA raised its stake in shares of Xerox by 132.8% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 2,828 shares of the information technology services provider’s stock valued at $56,000 after acquiring an additional 1,613 shares during the period. Manchester Capital Management LLC raised its stake in shares of Xerox by 1,366.3% in the 4th quarter. Manchester Capital Management LLC now owns 2,654 shares of the information technology services provider’s stock valued at $64,000 after acquiring an additional 2,473 shares during the period. Finally, NuWave Investment Management LLC raised its stake in shares of Xerox by 12,853.6% in the 4th quarter. NuWave Investment Management LLC now owns 3,627 shares of the information technology services provider’s stock valued at $72,000 after acquiring an additional 3,599 shares during the period. 86.30% of the stock is currently owned by institutional investors.

Shares of XRX stock opened at $29.22 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.44 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $6.93 billion, a P/E ratio of 8.45 and a beta of 1.65. Xerox Corp has a fifty-two week low of $18.58 and a fifty-two week high of $32.31.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Tuesday, January 29th. The information technology services provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.60 billion. Xerox had a net margin of 3.67% and a return on equity of 16.81%. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 EPS. As a group, research analysts predict that Xerox Corp will post 3.76 EPS for the current year.

A number of research firms have recently issued reports on XRX. ValuEngine raised shares of Xerox from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research raised shares of Xerox from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Citigroup reduced their price target on shares of Xerox from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, October 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $35.25.

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About Xerox

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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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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