Swiss National Bank raised its position in shares of Xerox Corp (NYSE:XRX) by 28.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,053,358 shares of the information technology services provider’s stock after buying an additional 671,300 shares during the period. Swiss National Bank owned 0.30% of Xerox Corp worth $22,412,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of XRX. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Xerox Corp by 2.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 879,674 shares of the information technology services provider’s stock worth $6,457,000 after buying an additional 23,390 shares during the period. LS Investment Advisors LLC increased its stake in shares of Xerox Corp by 25.2% in the first quarter. LS Investment Advisors LLC now owns 43,790 shares of the information technology services provider’s stock worth $321,000 after buying an additional 8,811 shares during the period. Pictet Asset Management Ltd. increased its stake in shares of Xerox Corp by 59.0% in the first quarter. Pictet Asset Management Ltd. now owns 704,192 shares of the information technology services provider’s stock worth $5,169,000 after buying an additional 261,400 shares during the period. Xact Kapitalforvaltning AB increased its stake in shares of Xerox Corp by 0.3% in the first quarter. Xact Kapitalforvaltning AB now owns 149,314 shares of the information technology services provider’s stock worth $1,096,000 after buying an additional 459 shares during the period. Finally, Texas Yale Capital Corp. acquired a new stake in shares of Xerox Corp during the first quarter worth about $220,000. Hedge funds and other institutional investors own 84.80% of the company’s stock.
Xerox Corp (NYSE:XRX) traded up 0.358% during mid-day trading on Friday, reaching $7.015. The company had a trading volume of 3,436,187 shares. The firm has a 50-day moving average of $7.08 and a 200 day moving average of $6.84. The company’s market capitalization is $7.13 billion. Xerox Corp has a 1-year low of $6.22 and a 1-year high of $7.69.
Xerox Corp (NYSE:XRX) last released its quarterly earnings results on Tuesday, April 25th. The information technology services provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.01. The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Xerox Corp had a net margin of 3.53% and a return on equity of 13.39%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS. On average, analysts predict that Xerox Corp will post $0.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, March 31st were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Wednesday, March 29th. Xerox Corp’s dividend payout ratio is presently 59.62%.
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A number of analysts have recently issued reports on the company. Zacks Investment Research downgraded Xerox Corp from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. Morgan Stanley dropped their price target on Xerox Corp from $8.50 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, April 26th. Goldman Sachs Group Inc reiterated a “buy” rating and set a $8.50 price target on shares of Xerox Corp in a research report on Wednesday, April 26th. Credit Suisse Group AG reiterated a “buy” rating and set a $8.00 price target on shares of Xerox Corp in a research report on Friday, March 31st. Finally, Barclays PLC dropped their price target on Xerox Corp from $10.00 to $7.00 and set an “underweight” rating for the company in a research report on Wednesday, February 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $9.16.
In other Xerox Corp news, insider Yehia Abouelmaaty Omar sold 29,375 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $7.09, for a total transaction of $208,268.75. Following the completion of the transaction, the insider now owns 15,903 shares in the company, valued at approximately $112,752.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% of the company’s stock.
Xerox Corp Company Profile
Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment includes service offerings, such as BPO and Document Outsourcing (DO). It provides business services in markets across various industries and to government agencies.
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