Nordea Investment Management AB trimmed its position in shares of Xerox Corporation (NYSE:XRX) by 75.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,082 shares of the information technology services provider’s stock after selling 33,257 shares during the quarter. Nordea Investment Management AB’s holdings in Xerox Corporation were worth $318,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Cypress Wealth Advisors LLC increased its stake in shares of Xerox Corporation by 42.8% during the first quarter. Cypress Wealth Advisors LLC now owns 15,035 shares of the information technology services provider’s stock worth $110,000 after acquiring an additional 4,508 shares during the period. National Asset Management Inc. acquired a new position in shares of Xerox Corporation during the first quarter worth about $113,000. Seven Eight Capital LP acquired a new position in shares of Xerox Corporation during the second quarter worth about $154,000. Penserra Capital Management LLC acquired a new position in shares of Xerox Corporation during the second quarter worth about $164,000. Finally, JFS Wealth Advisors LLC acquired a new position in shares of Xerox Corporation during the second quarter worth about $173,000. Institutional investors and hedge funds own 84.12% of the company’s stock.
Shares of Xerox Corporation (NYSE XRX) opened at 32.71 on Wednesday. The firm has a 50 day moving average of $32.64 and a 200 day moving average of $30.00. Xerox Corporation has a one year low of $22.90 and a one year high of $34.13. The stock’s market cap is $8.31 billion.
Xerox Corporation (NYSE:XRX) last announced its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.03. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The business’s revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. On average, equities research analysts predict that Xerox Corporation will post $3.36 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.00 annualized dividend and a dividend yield of 3.06%. This is a boost from Xerox Corporation’s previous quarterly dividend of $0.06. Xerox Corporation’s payout ratio is currently 48.31%.
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A number of research analysts have recently issued reports on XRX shares. ValuEngine lowered shares of Xerox Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Barclays PLC reiterated a “sell” rating and set a $27.00 price target on shares of Xerox Corporation in a research note on Friday, June 23rd. Loop Capital initiated coverage on shares of Xerox Corporation in a report on Monday, July 24th. They set a “buy” rating and a $36.00 price objective on the stock. Zacks Investment Research downgraded shares of Xerox Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, BidaskClub raised shares of Xerox Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $35.67.
Xerox Corporation 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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