Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Xerox Corp (NYSE:XRX)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Xerox Corp (NYSE:XRX) by 137.4% in the third quarter, HoldingsChannel.com reports. The firm owned 296,367 shares of the information technology services provider’s stock after purchasing an additional 171,529 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Xerox were worth $8,864,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BP PLC purchased a new position in Xerox during the second quarter valued at $708,000. JPMorgan Chase & Co. grew its stake in shares of Xerox by 56.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 949,399 shares of the information technology services provider’s stock worth $33,543,000 after buying an additional 342,360 shares in the last quarter. Ossiam purchased a new position in shares of Xerox in the 2nd quarter worth $143,000. Allianz Asset Management GmbH grew its stake 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 worth $17,301,000 after buying an additional 121,026 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Xerox by 39.9% in the 2nd quarter. KBC Group NV now owns 193,615 shares of the information technology services provider’s stock worth $6,856,000 after buying an additional 55,268 shares in the last quarter. 84.95% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Herve Tessler sold 32,200 shares of Xerox stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $31.22, for a total transaction of $1,005,284.00. Following the completion of the sale, the executive vice president now owns 11,804 shares in the company, valued at approximately $368,520.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.19% of the company’s stock.

A number of equities analysts have commented on the stock. 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 note on Monday, September 9th. ValuEngine cut shares of Xerox from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $36.00.

Shares of Xerox stock traded up $0.47 during trading on Tuesday, hitting $30.43. The stock had a trading volume of 22,393 shares, compared to its average volume of 1,612,184. The firm’s fifty day simple moving average is $29.89 and its 200-day simple moving average is $32.06. The stock has a market cap of $6.69 billion, a PE ratio of 8.77 and a beta of 1.77. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.33 and a quick ratio of 1.09. Xerox Corp has a 12 month low of $18.58 and a 12 month high of $36.58.

Xerox (NYSE:XRX) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.06. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. Xerox had a net margin of 5.76% and a return on equity of 18.78%. The business’s revenue was down 8.8% on a year-over-year basis. During the same quarter last year, the business earned $0.80 EPS. Analysts expect that Xerox Corp will post 3.89 earnings per share for the current fiscal year.

The business 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.00 dividend on an annualized basis and a yield of 3.29%. Xerox’s payout ratio is 28.90%.

About Xerox

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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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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