Xerox Corporation (XRX) Shares Bought by United Asset Strategies Inc.
United Asset Strategies Inc. boosted its stake in Xerox Corporation (NYSE:XRX) by 56.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 25,978 shares of the information technology services provider’s stock after acquiring an additional 9,367 shares during the quarter. United Asset Strategies Inc.’s holdings in Xerox Corporation were worth $865,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its stake in Xerox Corporation by 61.1% during the 2nd quarter. Principal Financial Group Inc. now owns 2,182,972 shares of the information technology services provider’s stock worth $62,715,000 after purchasing an additional 828,269 shares during the last quarter. AXA boosted its stake in Xerox Corporation by 10.9% during the 2nd quarter. AXA now owns 1,438,621 shares of the information technology services provider’s stock worth $41,331,000 after purchasing an additional 141,790 shares during the last quarter. Becker Capital Management Inc. acquired a new stake in Xerox Corporation during the 3rd quarter worth $39,003,000. Robeco Institutional Asset Management B.V. boosted its stake in Xerox Corporation by 2.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 870,003 shares of the information technology services provider’s stock worth $28,965,000 after purchasing an additional 23,430 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its stake in Xerox Corporation by 378.0% during the 2nd quarter. Federated Investors Inc. PA now owns 590,999 shares of the information technology services provider’s stock worth $16,980,000 after purchasing an additional 467,371 shares during the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.
XRX has been the topic of several recent research reports. Barclays PLC reaffirmed an “equal weight” rating and set a $35.00 target price (up previously from $33.00) on shares of Xerox Corporation in a research note on Tuesday, September 12th. UBS AG initiated coverage on shares of Xerox Corporation in a research note on Tuesday, October 3rd. They set a “neutral” rating and a $36.00 target price on the stock. Loop Capital reaffirmed a “buy” rating and set a $38.00 target price (up previously from $36.00) on shares of Xerox Corporation in a research note on Wednesday, August 2nd. Zacks Investment Research cut shares of Xerox Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Finally, Credit Suisse Group boosted their price target on shares of Xerox Corporation from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $35.50.
Shares of Xerox Corporation (XRX) traded up $0.02 on Tuesday, reaching $29.08. The company had a trading volume of 1,539,586 shares, compared to its average volume of 2,050,000. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.63 and a quick ratio of 1.33. The firm has a market capitalization of $7,340.00, a P/E ratio of 8.65 and a beta of 1.14. Xerox Corporation has a 52-week low of $24.86 and a 52-week high of $34.13.
Xerox Corporation (NYSE:XRX) last announced its quarterly earnings results on Thursday, October 26th. The information technology services provider reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.06. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Xerox Corporation had a return on equity of 17.23% and a net margin of 5.29%. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 earnings per share. equities research analysts predict that Xerox Corporation will post 3.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Thursday, December 28th. Xerox Corporation’s payout ratio is currently 47.17%.
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Xerox Corporation 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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