Legal & General Group Plc decreased its position in Xerox Corporation (NYSE:XRX) by 5.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,357,466 shares of the information technology services provider’s stock after selling 83,760 shares during the period. Legal & General Group Plc owned approximately 0.53% of Xerox worth $45,197,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Seven Eight Capital LP bought a new stake in Xerox in the 2nd quarter valued at $154,000. Penserra Capital Management LLC bought a new stake in Xerox in the 2nd quarter valued at $164,000. Risk Paradigm Group LLC bought a new stake in Xerox in the 2nd quarter valued at $176,000. W.G. Shaheen & Associates DBA Whitney & Co bought a new stake in Xerox in the 2nd quarter valued at $231,000. Finally, Keybank National Association OH bought a new stake in Xerox in the 3rd quarter valued at $233,000. 84.03% of the stock is owned by institutional investors.
Several equities research analysts recently commented on the stock. UBS reaffirmed a “hold” rating and issued a $34.50 price objective on shares of Xerox in a research report on Tuesday. Zacks Investment Research raised shares of Xerox from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. 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. 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 equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Xerox has a consensus rating of “Buy” and a consensus target price of $35.50.
Shares of Xerox Corporation (XRX) traded up $0.20 during trading hours on Thursday, reaching $29.64. 1,404,600 shares of the company’s stock traded hands, compared to its average volume of 2,414,588. 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 Corporation has a 52-week low of $25.84 and a 52-week high of $39.08. The company has a market cap of $7,495.02, a PE ratio of 8.76 and a beta of 1.12.
Xerox (NYSE:XRX) last issued its quarterly earnings results on Thursday, October 26th. The information technology services provider reported $0.89 EPS for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the firm posted $0.84 EPS. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. research analysts expect that Xerox Corporation will post 3.38 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.00 annualized dividend and a yield of 3.37%. Xerox’s dividend payout ratio (DPR) is presently 48.31%.
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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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