Nationwide Fund Advisors Lowers Holdings in Xerox Corporation (XRX)
Nationwide Fund Advisors decreased its stake in Xerox Corporation (NYSE:XRX) by 61.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 111,990 shares of the information technology services provider’s stock after selling 177,872 shares during the period. Nationwide Fund Advisors’ holdings in Xerox Corporation were worth $3,217,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Cypress Wealth Advisors LLC raised its position in Xerox Corporation by 42.8% in the first quarter. Cypress Wealth Advisors LLC now owns 15,035 shares of the information technology services provider’s stock worth $110,000 after acquiring an additional 4,508 shares during the period. National Asset Management Inc. bought a new stake in Xerox Corporation in the first quarter worth about $113,000. Seven Eight Capital LP bought a new stake in Xerox Corporation in the second quarter worth about $154,000. Penserra Capital Management LLC bought a new stake in Xerox Corporation in the second quarter worth about $164,000. Finally, JFS Wealth Advisors LLC bought a new stake in Xerox Corporation in the second quarter worth about $173,000. 84.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Xerox Corporation (XRX) opened at 32.71 on Wednesday. The stock has a 50 day moving average of $32.64 and a 200 day moving average of $30.00. Xerox Corporation has a 52-week low of $22.90 and a 52-week high of $34.13. The company’s market cap is $8.31 billion.
Xerox Corporation (NYSE:XRX) last issued its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.03. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the prior year, the business earned $0.26 EPS. The business’s quarterly revenue was down 8.1% on a year-over-year basis. On average, equities research analysts expect that Xerox Corporation will post $3.36 EPS for the current year.
The firm also recently disclosed 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 represents a $1.00 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Thursday, September 28th. This is a boost from Xerox Corporation’s previous quarterly dividend of $0.06. Xerox Corporation’s dividend payout ratio is 48.31%.
XRX has been the topic of several research reports. ValuEngine lowered shares of Xerox Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Barclays PLC reaffirmed a “sell” rating and issued a $27.00 price objective on shares of Xerox Corporation in a research report on Friday, June 23rd. Loop Capital initiated coverage on shares of Xerox Corporation in a research report on Monday, July 24th. They issued a “buy” rating and a $36.00 price objective on the stock. Zacks Investment Research lowered shares of Xerox Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, BidaskClub raised shares of Xerox Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, four have given 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 $35.67.
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Xerox Corporation Company Profile
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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