ValuEngine upgraded shares of Xerox (NYSE:XRX) from a strong sell rating to a sell rating in a report released on Thursday morning, ValuEngine reports.

XRX has been the topic of several other research reports. JPMorgan Chase & Co. raised shares of Xerox from an underweight rating to a neutral rating and lifted their price objective for the stock from $31.00 to $38.00 in a research note on Tuesday, November 12th. Credit Suisse Group lifted their price objective on shares of Xerox from $42.00 to $43.00 and gave the stock an outperform rating in a research note on Wednesday, October 30th. Finally, Zacks Investment Research raised shares of Xerox from a hold rating to a strong-buy rating and set a $36.00 target price on the stock in a research report on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $39.00.

Shares of XRX traded up $0.29 during mid-day trading on Thursday, hitting $38.94. The company’s stock had a trading volume of 2,240,427 shares, compared to its average volume of 3,014,185. The firm has a 50-day moving average price of $32.05 and a 200 day moving average price of $32.15. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 11.25 and a beta of 1.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 0.91. Xerox has a fifty-two week low of $18.58 and a fifty-two week high of $39.38.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.22. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Xerox had a net margin of 7.28% and a return on equity of 19.62%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. As a group, equities analysts anticipate that Xerox will post 3.88 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, December 30th. Xerox’s dividend payout ratio (DPR) is currently 28.90%.

In other news, EVP Herve Tessler sold 32,200 shares of Xerox stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $31.22, for a total value of $1,005,284.00. Following the transaction, the executive vice president now directly owns 11,804 shares of the company’s stock, valued at $368,520.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in XRX. CNA Financial Corp boosted its holdings in shares of Xerox by 41.0% during the third quarter. CNA Financial Corp now owns 71,597 shares of the information technology services provider’s stock worth $2,141,000 after purchasing an additional 20,833 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of Xerox during the third quarter worth approximately $1,463,000. Symmetry Partners LLC lifted its stake in Xerox by 13.5% in the third quarter. Symmetry Partners LLC now owns 14,115 shares of the information technology services provider’s stock valued at $422,000 after acquiring an additional 1,677 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in Xerox by 118.2% in the third quarter. Cullen Frost Bankers Inc. now owns 22,062 shares of the information technology services provider’s stock valued at $661,000 after acquiring an additional 11,949 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its stake in Xerox by 43.2% in the third quarter. IFM Investors Pty Ltd now owns 18,715 shares of the information technology services provider’s stock valued at $560,000 after acquiring an additional 5,644 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Xerox Company Profile

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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