Lingohr & Partner Asset Management GmbH Has $228,000 Holdings in Xerox Corporation (XRX)
Lingohr & Partner Asset Management GmbH cut its stake in shares of Xerox Corporation (NYSE:XRX) by 85.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,118 shares of the information technology services provider’s stock after selling 176,256 shares during the quarter. Lingohr & Partner Asset Management GmbH’s holdings in Xerox Corporation were worth $228,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of XRX. Venturi Wealth Management LLC bought a new position in shares of Xerox Corporation during the first quarter valued at $106,000. Cypress Wealth Advisors LLC lifted its holdings in shares of Xerox Corporation by 42.8% during the first quarter. Cypress Wealth Advisors LLC now owns 15,035 shares of the information technology services provider’s stock valued at $110,000 after acquiring an additional 4,508 shares during the period. National Asset Management Inc. bought a new position in shares of Xerox Corporation during the first quarter valued at $113,000. Ronald Blue & Co. LLC bought a new position in shares of Xerox Corporation during the first quarter valued at $121,000. Finally, Baird Financial Group Inc. lifted its holdings in shares of Xerox Corporation by 58.3% during the first quarter. Baird Financial Group Inc. now owns 17,207 shares of the information technology services provider’s stock valued at $126,000 after acquiring an additional 6,340 shares during the period. 84.13% of the stock is owned by institutional investors.
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Xerox Corporation (XRX) traded up 0.03% during trading on Monday, hitting $32.65. The stock had a trading volume of 96,281 shares. Xerox Corporation has a 52 week low of $24.86 and a 52 week high of $32.99. The company’s market cap is $8.30 billion. The company has a 50-day moving average of $32.06 and a 200 day moving average of $29.53.
Xerox Corporation (NYSE:XRX) last issued its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Xerox Corporation had a return on equity of 15.28% and a net margin of 4.55%. The business’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. On average, equities research analysts anticipate that Xerox Corporation will post $3.36 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid 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 dividend yield of 3.06%. Xerox Corporation’s dividend payout ratio is presently 12.08%.
XRX has been the subject of a number of analyst reports. ValuEngine raised Xerox Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Barclays PLC restated an “equal weight” rating and issued a $35.00 target price (up from $33.00) on shares of Xerox Corporation in a research note on Tuesday, September 12th. Morgan Stanley restated an “overweight” rating and issued a $32.00 target price on shares of Xerox Corporation in a research note on Saturday, June 3rd. Loop Capital restated a “buy” rating and issued a $38.00 target price (up from $36.00) on shares of Xerox Corporation in a research note on Wednesday, August 2nd. Finally, Credit Suisse Group raised their target price on Xerox Corporation from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Xerox Corporation currently has a consensus rating of “Buy” and an average target price of $35.63.
About Xerox Corporation
Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.
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