New Mexico Educational Retirement Board cut its position in shares of Xerox Corporation (NYSE:XRX) by 76.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 20,565 shares of the information technology services provider’s stock after selling 65,997 shares during the period. New Mexico Educational Retirement Board’s holdings in Xerox Corporation were worth $631,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of XRX. Retirement Systems of Alabama boosted its stake in Xerox Corporation by 1.0% in the first quarter. Retirement Systems of Alabama now owns 883,481 shares of the information technology services provider’s stock worth $6,485,000 after buying an additional 9,149 shares in the last quarter. Oakbrook Investments LLC boosted its stake in Xerox Corporation by 96.9% in the first quarter. Oakbrook Investments LLC now owns 78,450 shares of the information technology services provider’s stock worth $576,000 after buying an additional 38,600 shares in the last quarter. Cutler Capital Management LLC boosted its stake in Xerox Corporation by 50.0% in the first quarter. Cutler Capital Management LLC now owns 45,000 shares of the information technology services provider’s stock worth $330,000 after buying an additional 15,000 shares in the last quarter. Ledyard National Bank boosted its stake in Xerox Corporation by 238.1% in the first quarter. Ledyard National Bank now owns 16,685 shares of the information technology services provider’s stock worth $122,000 after buying an additional 11,750 shares in the last quarter. Finally, Hartford Investment Management Co. boosted its stake in Xerox Corporation by 23.4% in the first quarter. Hartford Investment Management Co. now owns 565,163 shares of the information technology services provider’s stock worth $4,148,000 after buying an additional 107,015 shares in the last quarter.

Xerox Corporation (XRX) opened at 32.41 on Thursday. The company’s 50 day moving average price is $30.40 and its 200-day moving average price is $29.09. Xerox Corporation has a 12-month low of $24.86 and a 12-month high of $32.99. The stock’s market cap is $8.24 billion.

Xerox Corporation (NYSE:XRX) last released its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.03. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.60 billion. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. Xerox Corporation’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. On average, analysts forecast that Xerox Corporation will post $3.36 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a $0.25 dividend. This is a boost from Xerox Corporation’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.00 annualized dividend and a yield of 3.09%. Xerox Corporation’s dividend payout ratio is 12.08%.

WARNING: “New Mexico Educational Retirement Board Has $631,000 Position in Xerox Corporation (XRX)” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/08/17/new-mexico-educational-retirement-board-has-631000-position-in-xerox-corporation-xrx.html.

A number of analysts have weighed in on the company. Credit Suisse Group raised their price target on Xerox Corporation from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Loop Capital restated a “buy” rating and issued a $38.00 price target (up from $36.00) on shares of Xerox Corporation in a research note on Wednesday, August 2nd. ValuEngine cut Xerox Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Citigroup Inc. set a $39.00 price target on Xerox Corporation and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Barclays PLC upgraded Xerox Corporation from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $27.00 to $33.00 in a research report on Monday, July 24th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $37.23.

Xerox Corporation 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.

Institutional Ownership by Quarter for Xerox Corporation (NYSE:XRX)

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