Northpointe Capital LLC cut its stake in shares of Xerox Corp. (NYSE:XRX) by 8.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,349 shares of the company’s stock after selling 32,336 shares during the period. Northpointe Capital LLC’s holdings in Xerox Corp. were worth $3,163,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. CIBC World Markets Inc. acquired a new position in Xerox Corp. during the second quarter valued at about $101,000. Raymond James Trust N.A. raised its position in Xerox Corp. by 10.2% in the second quarter. Raymond James Trust N.A. now owns 11,703 shares of the company’s stock valued at $111,000 after buying an additional 1,088 shares in the last quarter. Integrated Investment Consultants LLC raised its position in Xerox Corp. by 14.4% in the second quarter. Integrated Investment Consultants LLC now owns 12,703 shares of the company’s stock valued at $120,000 after buying an additional 1,597 shares in the last quarter. Alpha Windward LLC raised its position in Xerox Corp. by 37.8% in the second quarter. Alpha Windward LLC now owns 14,020 shares of the company’s stock valued at $133,000 after buying an additional 3,849 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its position in Xerox Corp. by 722.6% in the first quarter. Loomis Sayles & Co. L P now owns 16,131 shares of the company’s stock valued at $180,000 after buying an additional 14,170 shares in the last quarter. 83.90% of the stock is owned by institutional investors.
Shares of Xerox Corp. (NYSE:XRX) traded up 1.32% during midday trading on Wednesday, hitting $9.97. The company had a trading volume of 4,342,940 shares. Xerox Corp. has a 1-year low of $8.48 and a 1-year high of $11.39. The stock has a 50 day moving average price of $9.85 and a 200 day moving average price of $9.94. The firm has a market capitalization of $10.10 billion, a P/E ratio of 26.03 and a beta of 1.29.
Xerox Corp. (NYSE:XRX) last announced its earnings results on Friday, July 29th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The business earned $4.40 billion during the quarter, compared to analyst estimates of $4.39 billion. Xerox Corp. had a net margin of 2.49% and a return on equity of 12.36%. The company’s quarterly revenue was down 69.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 EPS. On average, equities analysts anticipate that Xerox Corp. will post $1.13 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a dividend of $0.0775 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.31 dividend on an annualized basis and a yield of 3.11%. Xerox Corp.’s dividend payout ratio is presently 75.61%.
XRX has been the subject of several research reports. Barclays PLC reissued an “underweight” rating and set a $11.00 price objective (up from $10.00) on shares of Xerox Corp. in a report on Tuesday, August 2nd. BMO Capital Markets increased their price objective on Xerox Corp. from $10.00 to $10.50 and gave the company a “market perform” rating in a report on Monday, August 1st. Piper Jaffray Cos. reissued an “overweight” rating on shares of Xerox Corp. in a report on Saturday, July 2nd. Vetr lowered Xerox Corp. from a “strong-buy” rating to a “hold” rating and set a $9.96 price objective for the company. in a report on Tuesday, September 13th. Finally, Zacks Investment Research lowered Xerox Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.10.
In other Xerox Corp. news, insider Herve Tessler sold 13,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $9.89, for a total transaction of $128,570.00. Following the completion of the sale, the insider now directly owns 110,319 shares in the company, valued at approximately $1,091,054.91. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Ursula M. Burns sold 3,317 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $9.85, for a total transaction of $32,672.45. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.
About Xerox Corp.
Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment comprises two types of service offerings: Business Process Outsourcing (BPO) and Document Outsourcing (DO).
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