Pinebridge Investments L.P. cut its holdings in shares of Xerox Corporation (NYSE:XRX) by 12.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,052 shares of the information technology services provider’s stock after selling 5,005 shares during the quarter. Pinebridge Investments L.P.’s holdings in Xerox were worth $1,167,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Nationwide Fund Advisors increased its holdings in shares of Xerox by 1.4% during the 3rd quarter. Nationwide Fund Advisors now owns 113,587 shares of the information technology services provider’s stock worth $3,781,000 after acquiring an additional 1,597 shares during the last quarter. Tredje AP fonden increased its holdings in shares of Xerox by 2.4% during the 3rd quarter. Tredje AP fonden now owns 79,786 shares of the information technology services provider’s stock worth $2,676,000 after acquiring an additional 1,898 shares during the last quarter. United Asset Strategies Inc. increased its holdings in shares of Xerox by 14.2% during the 2nd quarter. United Asset Strategies Inc. now owns 16,611 shares of the information technology services provider’s stock worth $477,000 after acquiring an additional 2,061 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Xerox by 1.3% during the 3rd quarter. American Century Companies Inc. now owns 169,794 shares of the information technology services provider’s stock worth $5,652,000 after acquiring an additional 2,237 shares during the last quarter. Finally, Norinchukin Bank The increased its holdings in shares of Xerox by 16.2% during the 3rd quarter. Norinchukin Bank The now owns 17,220 shares of the information technology services provider’s stock worth $573,000 after acquiring an additional 2,406 shares during the last quarter. 84.03% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently issued reports on the company. UBS reduced their price target on Xerox from $36.00 to $34.50 and set a “neutral” rating for the company in a research note on Friday, October 27th. ValuEngine upgraded Xerox from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded Xerox from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. BidaskClub upgraded Xerox from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Finally, Barclays restated an “equal weight” rating and issued a $35.00 price target (up from $33.00) on shares of Xerox in a research note on Tuesday, September 12th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $35.50.

Xerox Corporation (NYSE XRX) remained flat at $$29.59 on Friday. 1,460,050 shares of the company’s stock were exchanged, compared to its average volume of 1,996,798. The firm has a market capitalization of $7,533.20, a P/E ratio of 8.81 and a beta of 1.12. Xerox Corporation has a 52-week low of $25.84 and a 52-week high of $38.12. The company has a current ratio of 1.63, a quick ratio of 1.33 and a debt-to-equity ratio of 0.97.

Xerox (NYSE:XRX) last released 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 Thomson Reuters’ consensus estimate of $0.83 by $0.06. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Xerox had a return on equity of 17.23% and a net margin of 5.29%. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 EPS. sell-side analysts forecast that Xerox Corporation will post 3.38 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.38%. Xerox’s payout ratio is 48.31%.

In other news, EVP Herve Tessler sold 6,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $28.59, for a total transaction of $171,540.00. Following the completion of the sale, the executive vice president now directly owns 35,878 shares in the company, valued at approximately $1,025,752.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

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Xerox 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.

Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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