Clearline Capital LP Trims Holdings in Xerox Corp (NYSE:XRX)
Clearline Capital LP trimmed its position in Xerox Corp (NYSE:XRX) by 53.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 69,912 shares of the information technology services provider’s stock after selling 80,015 shares during the quarter. Xerox makes up about 1.2% of Clearline Capital LP’s portfolio, making the stock its 29th largest position. Clearline Capital LP’s holdings in Xerox were worth $2,476,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. BP PLC purchased a new position in Xerox during the second quarter valued at approximately $708,000. JPMorgan Chase & Co. raised its position in Xerox by 56.4% in the second quarter. JPMorgan Chase & Co. now owns 949,399 shares of the information technology services provider’s stock valued at $33,543,000 after purchasing an additional 342,360 shares during the period. Ossiam purchased a new stake in Xerox in the second quarter valued at $143,000. Tyers Asset Management LLC raised its holdings in shares of Xerox by 267.1% in the 1st quarter. Tyers Asset Management LLC now owns 72,268 shares of the information technology services provider’s stock valued at $2,311,000 after buying an additional 52,584 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of Xerox by 32.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 488,569 shares of the information technology services provider’s stock valued at $17,301,000 after buying an additional 121,026 shares during the period. Institutional investors own 84.77% of the company’s stock.
In related news, EVP Herve Tessler sold 32,200 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $31.22, for a total transaction of $1,005,284.00. Following the completion of the transaction, the executive vice president now directly owns 11,804 shares of the company’s stock, valued at approximately $368,520.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.
Shares of XRX stock traded up $0.06 on Thursday, hitting $30.64. The stock had a trading volume of 11,399 shares, compared to its average volume of 1,800,257. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.33 and a quick ratio of 1.09. The firm has a market capitalization of $6.98 billion, a P/E ratio of 8.85 and a beta of 1.76. Xerox Corp has a 1 year low of $18.58 and a 1 year high of $36.58. The company’s 50 day moving average price is $29.44 and its 200-day moving average price is $32.35.
Xerox (NYSE:XRX) last posted its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $0.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.06. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.30 billion. Xerox had a return on equity of 18.78% and a net margin of 5.76%. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 EPS. On average, equities analysts forecast that Xerox Corp will post 3.89 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.25 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.00 annualized dividend and a dividend yield of 3.26%. Xerox’s dividend payout ratio is presently 28.90%.
Xerox Company Profile
Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.
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