Meeder Asset Management Inc. raised its position in shares of Xerox Corp (NYSE:XRX) by 141.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,125 shares of the information technology services provider’s stock after acquiring an additional 42,792 shares during the period. Meeder Asset Management Inc.’s holdings in Xerox were worth $2,339,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of XRX. Legacy Bridge LLC bought a new position in Xerox during the fourth quarter valued at $30,000. Moody National Bank Trust Division bought a new position in Xerox during the first quarter valued at $35,000. CSat Investment Advisory L.P. increased its position in Xerox by 56.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,013 shares of the information technology services provider’s stock valued at $40,000 after acquiring an additional 730 shares during the last quarter. First Mercantile Trust Co. increased its position in Xerox by 62.7% during the fourth 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 last quarter. Finally, San Francisco Sentry Investment Group CA increased its position in Xerox by 132.8% during the fourth 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 last quarter. Institutional investors and hedge funds own 85.15% of the company’s stock.
NYSE XRX opened at $35.00 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.19 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $7.98 billion, a PE ratio of 10.12 and a beta of 1.70. Xerox Corp has a 12 month low of $18.58 and a 12 month high of $35.01.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.86%. The ex-dividend date is Thursday, March 28th. Xerox’s payout ratio is 28.90%.
XRX has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Xerox from a “hold” rating to a “sell” rating in a research report on Saturday, January 12th. ValuEngine upgraded shares of Xerox from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 29th. Standpoint Research cut shares of Xerox from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. TheStreet upgraded shares of Xerox from a “c+” rating to a “b-” rating in a report on Friday, February 22nd. Finally, Credit Suisse Group initiated coverage on shares of Xerox in a report on Thursday, April 11th. They issued an “outperform” rating and a $42.00 price target on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Xerox presently has an average rating of “Hold” and an average price target of $36.60.
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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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