BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 190,062 Shares of Xerox Corp (XRX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Xerox Corp (NYSE:XRX) by 61.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,167 shares of the information technology services provider’s stock after selling 190,062 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Xerox were worth $4,034,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Seven Eight Capital LP bought a new stake in Xerox in the 2nd quarter worth about $154,000. Penserra Capital Management LLC bought a new stake in Xerox in the 2nd quarter worth about $164,000. Risk Paradigm Group LLC bought a new stake in Xerox in the 2nd quarter worth about $176,000. Keybank National Association OH bought a new stake in Xerox in the 3rd quarter worth about $233,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co bought a new stake in Xerox in the 2nd quarter worth about $231,000. 84.03% of the stock is owned by institutional investors.

In other news, EVP Herve Tessler sold 6,000 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $28.59, for a total transaction of $171,540.00. Following the completion of 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

XRX has been the subject of a number of recent analyst reports. Barclays reaffirmed an “equal weight” rating and issued a $35.00 price objective (up from $33.00) on shares of Xerox in a research report on Tuesday, September 12th. UBS initiated coverage on shares of Xerox in a research report on Tuesday, October 3rd. They issued a “neutral” rating and a $36.00 price objective for the company. Zacks Investment Research raised shares of Xerox from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. ValuEngine raised shares of Xerox from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, BidaskClub raised shares of Xerox from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $35.50.

Xerox Corp (NYSE XRX) traded down $0.11 during trading on Friday, hitting $29.31. 2,211,300 shares of the stock were exchanged, compared to its average volume of 2,415,295. Xerox Corp has a 1 year low of $25.84 and a 1 year high of $37.08. The company has a market cap of $7,489.92, a P/E ratio of 8.76 and a beta of 1.12. The company has a quick ratio of 1.33, a current ratio of 1.63 and a debt-to-equity ratio of 0.97.

Xerox (NYSE:XRX) last released its earnings results on Thursday, October 26th. The information technology services provider reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.06. Xerox had a net margin of 5.29% and a return on equity of 17.23%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the firm earned $0.84 EPS. The company’s revenue was down 5.0% compared to the same quarter last year. research analysts expect that Xerox Corp will post 3.38 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Thursday, December 28th. Xerox’s dividend payout ratio is currently 48.31%.

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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.

Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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