Cubist Systematic Strategies LLC raised its position in shares of Xerox Corp (NYSE:XRX) by 521.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,972 shares of the information technology services provider’s stock after purchasing an additional 55,355 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Xerox were worth $2,196,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Gagnon Securities LLC grew its stake in shares of Xerox by 11.6% during the 3rd quarter. Gagnon Securities LLC now owns 22,922 shares of the information technology services provider’s stock valued at $763,000 after purchasing an additional 2,378 shares during the period. Chevy Chase Trust Holdings Inc. bought a new stake in shares of Xerox during the 3rd quarter valued at about $6,326,000. Boothbay Fund Management LLC bought a new stake in shares of Xerox during the 3rd quarter valued at about $298,000. Asset Management One Co. Ltd. grew its stake in shares of Xerox by 1.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 333,226 shares of the information technology services provider’s stock valued at $11,104,000 after purchasing an additional 3,468 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Xerox by 11.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 37,063 shares of the information technology services provider’s stock valued at $1,234,000 after purchasing an additional 3,857 shares during the period. Institutional investors and hedge funds own 84.03% of the company’s stock.

Shares of Xerox Corp (NYSE XRX) traded down $0.32 during trading hours on Thursday, hitting $29.42. The company had a trading volume of 4,010,600 shares, compared to its average volume of 2,416,145. The company has a market cap of $7,571.39, a P/E ratio of 8.85 and a beta of 1.12. 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 Corp has a 52 week low of $25.84 and a 52 week high of $37.60.

Xerox (NYSE:XRX) last announced its quarterly earnings data 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. Xerox had a return on equity of 17.23% and a net margin of 5.29%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the company posted $0.84 EPS. The firm’s revenue was down 5.0% on a year-over-year basis. research analysts predict that Xerox Corp will post 3.38 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a $0.25 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a yield of 3.40%. Xerox’s dividend payout ratio is presently 48.31%.

In related news, EVP Herve Tessler sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $28.59, for a total value of $171,540.00. Following the transaction, the executive vice president now directly owns 35,878 shares of the company’s stock, valued at approximately $1,025,752.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by insiders.

A number of research analysts recently issued reports on XRX shares. Zacks Investment Research upgraded Xerox from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. UBS reiterated a “hold” rating and set a $34.50 price objective on shares of Xerox in a research note on Tuesday, December 5th. Barclays reiterated an “equal weight” rating and set a $35.00 price objective (up from $33.00) on shares of Xerox in a research note on Tuesday, September 12th. BidaskClub upgraded Xerox from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Finally, ValuEngine upgraded Xerox from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $35.50.

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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.

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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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