ValuEngine upgraded shares of Xerox (NYSE:XRX) from a hold rating to a buy rating in a research report released on Saturday morning.

XRX has been the subject of several other reports. JPMorgan Chase reduced their target price on Xerox from $41.00 to $40.00 and set an overweight rating for the company in a report on Tuesday, February 13th. Loop Capital reaffirmed a buy rating on shares of Xerox in a report on Thursday, February 1st. Standpoint Research reaffirmed a hold rating on shares of Xerox in a report on Wednesday, January 31st. Zacks Investment Research raised Xerox from a hold rating to a buy rating and set a $35.00 target price for the company in a report on Saturday, February 10th. Finally, UBS raised Xerox from a neutral rating to a buy rating in a report on Monday, February 5th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $35.72.

Shares of Xerox stock opened at $31.54 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.91 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $8,032.42, a PE ratio of 9.28 and a beta of 1.19. Xerox has a fifty-two week low of $26.64 and a fifty-two week high of $37.42.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Wednesday, January 31st. The information technology services provider reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.08. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.63 billion. Xerox had a return on equity of 17.13% and a net margin of 1.67%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 earnings per share. equities analysts anticipate that Xerox will post 3.43 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, March 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Wednesday, March 28th. Xerox’s dividend payout ratio is 28.74%.

In related news, insider Carl C. Icahn sold 1,161,404 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $34.49, for a total value of $40,056,823.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carl C. Icahn sold 140,011 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $32.50, for a total value of $4,550,357.50. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in Xerox by 0.7% in the 4th quarter. BlackRock Inc. now owns 15,067,064 shares of the information technology services provider’s stock worth $439,206,000 after acquiring an additional 98,850 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in Xerox by 31.4% in the 4th quarter. TIAA CREF Investment Management LLC now owns 3,979,223 shares of the information technology services provider’s stock worth $115,994,000 after acquiring an additional 951,355 shares in the last quarter. Guggenheim Capital LLC lifted its stake in Xerox by 13.8% in the 4th quarter. Guggenheim Capital LLC now owns 2,654,855 shares of the information technology services provider’s stock worth $77,390,000 after acquiring an additional 320,976 shares in the last quarter. Alps Advisors Inc. lifted its stake in Xerox by 12.8% in the 4th quarter. Alps Advisors Inc. now owns 1,621,941 shares of the information technology services provider’s stock worth $47,280,000 after acquiring an additional 184,505 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Xerox by 0.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,306,983 shares of the information technology services provider’s stock worth $38,098,000 after acquiring an additional 8,166 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

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Xerox Company Profile

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.

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Analyst Recommendations for Xerox (NYSE:XRX)

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