Xerox (NYSE:XRX) Sets New 1-Year High at $35.23
Xerox Corp (NYSE:XRX) reached a new 52-week high during trading on Wednesday . The stock traded as high as $35.23 and last traded at $35.08, with a volume of 28454 shares changing hands. The stock had previously closed at $35.02.
Several equities research analysts have issued reports on XRX shares. Zacks Investment Research downgraded Xerox from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Credit Suisse Group started coverage on Xerox in a report on Thursday, April 11th. They set an “outperform” rating and a $42.00 price target for the company. TheStreet raised Xerox from a “c+” rating to a “b-” rating in a report on Friday, February 22nd. Finally, Standpoint Research downgraded Xerox from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.75.
The firm has a market cap of $7.67 billion, a PE ratio of 10.14 and a beta of 1.66. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.47 and a quick ratio of 1.18.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.86%. The ex-dividend date is Thursday, June 27th. Xerox’s dividend payout ratio is 28.90%.
Institutional investors have recently made changes to their positions in the business. Loomis Sayles & Co. L P acquired a new stake in shares of Xerox during the first quarter worth $25,000. Moody National Bank Trust Division acquired a new stake in shares of Xerox during the first quarter worth $35,000. Fifth Third Bancorp lifted its holdings in shares of Xerox by 98.7% during the first quarter. Fifth Third Bancorp now owns 1,087 shares of the information technology services provider’s stock worth $35,000 after buying an additional 540 shares in the last quarter. CSat Investment Advisory L.P. lifted its holdings in shares of Xerox by 56.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,013 shares of the information technology services provider’s stock worth $40,000 after buying an additional 730 shares in the last quarter. Finally, First Mercantile Trust Co. lifted its holdings in shares of Xerox by 62.7% during the fourth quarter. First Mercantile Trust Co. now owns 2,570 shares of the information technology services provider’s stock worth $50,000 after buying an additional 990 shares in the last quarter. 87.00% of the stock is owned by institutional investors and hedge funds.
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About Xerox (NYSE:XRX)
Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.
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