Renaissance Technologies LLC Sells 490,325 Shares of Xerox Corp (NYSE:XRX)

Renaissance Technologies LLC trimmed its position in shares of Xerox Corp (NYSE:XRX) by 58.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 354,024 shares of the information technology services provider’s stock after selling 490,325 shares during the period. Renaissance Technologies LLC owned about 0.16% of Xerox worth $12,536,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Advisor Partners LLC boosted its position in Xerox by 5.0% in the 2nd quarter. Advisor Partners LLC now owns 7,367 shares of the information technology services provider’s stock valued at $261,000 after buying an additional 350 shares during the period. CWM LLC boosted its position in Xerox by 57.9% in the 2nd quarter. CWM LLC now owns 982 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 360 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Xerox by 3.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,684 shares of the information technology services provider’s stock valued at $374,000 after buying an additional 375 shares during the period. Empirical Finance LLC boosted its position in Xerox by 1.1% in the 2nd quarter. Empirical Finance LLC now owns 47,186 shares of the information technology services provider’s stock valued at $1,671,000 after buying an additional 515 shares during the period. Finally, Strs Ohio boosted its position in Xerox by 4.9% in the 2nd quarter. Strs Ohio now owns 15,020 shares of the information technology services provider’s stock valued at $531,000 after buying an additional 705 shares during the period. Institutional investors own 84.77% of the company’s stock.

In other news, EVP Herve Tessler sold 32,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $31.22, for a total value of $1,005,284.00. Following the completion of the sale, the executive vice president now owns 11,804 shares of the company’s stock, valued at approximately $368,520.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

XRX has been the subject of several research reports. Zacks Investment Research cut shares of Xerox from a “hold” rating to a “sell” rating and set a $32.00 price objective for the company. in a research report on Monday, September 9th. ValuEngine cut shares of Xerox from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Xerox has an average rating of “Hold” and a consensus target price of $36.00.

Shares of XRX traded down $0.56 during mid-day trading on Friday, hitting $29.64. The company’s stock had a trading volume of 1,584,231 shares, compared to its average volume of 1,761,460. The company’s 50-day moving average is $29.34 and its 200-day moving average is $32.35. Xerox Corp has a 52-week low of $18.58 and a 52-week high of $36.58. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 8.57 and a beta of 1.76. The company has a current ratio of 1.33, a quick ratio of 1.09 and a debt-to-equity ratio of 0.79.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.06. Xerox had a net margin of 5.76% and a return on equity of 18.78%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The company’s revenue was down 8.8% compared to the same quarter last year. As a group, sell-side analysts predict that Xerox Corp will post 3.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.00 annualized dividend and a dividend yield of 3.37%. Xerox’s payout ratio is presently 28.90%.

Xerox 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.

Featured Story: SEC Filing

Want to see what other hedge funds are holding XRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Xerox Corp (NYSE:XRX).

Institutional Ownership by Quarter for Xerox (NYSE:XRX)

Receive News & Ratings for Xerox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xerox and related companies with MarketBeat.com's FREE daily email newsletter.