State of Tennessee Treasury Department Has $7.73 Million Holdings in Xerox Corp (XRX)

State of Tennessee Treasury Department decreased its position in Xerox Corp (NYSE:XRX) by 39.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 265,227 shares of the information technology services provider’s stock after selling 173,335 shares during the period. State of Tennessee Treasury Department’s holdings in Xerox were worth $7,732,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of XRX. D.A. Davidson & CO. purchased a new stake in Xerox in the 4th quarter valued at about $202,000. Advisor Partners LLC purchased a new stake in Xerox in the 4th quarter valued at about $204,000. Conning Inc. purchased a new stake in Xerox in the 4th quarter valued at about $215,000. Contravisory Investment Management Inc. increased its stake in Xerox by 10,970.1% in the 4th quarter. Contravisory Investment Management Inc. now owns 7,417 shares of the information technology services provider’s stock valued at $216,000 after buying an additional 7,350 shares during the last quarter. Finally, Keybank National Association OH purchased a new stake in Xerox in the 3rd quarter valued at about $233,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

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Several brokerages have recently issued reports on XRX. UBS Group upgraded shares of Xerox from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Standpoint Research restated a “hold” rating on shares of Xerox in a research note on Wednesday, January 31st. Loop Capital restated a “buy” rating on shares of Xerox in a research note on Thursday, February 1st. JPMorgan Chase & Co. decreased their price target on shares of Xerox from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, February 13th. Finally, Zacks Investment Research lowered shares of Xerox from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $35.72.

In related news, insider Carl C. Icahn sold 140,011 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $32.50, for a total value of $4,550,357.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carl C. Icahn sold 1,161,404 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $34.49, for a total transaction of $40,056,823.96. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Shares of Xerox Corp (XRX) opened at $30.18 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.57 and a current ratio of 1.91. Xerox Corp has a one year low of $26.64 and a one year high of $37.42. The stock has a market cap of $7,925.44, a P/E ratio of 48.02 and a beta of 1.13.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Wednesday, January 31st. The information technology services provider reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.08. The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.63 billion. Xerox had a net margin of 1.67% and a return on equity of 17.13%. Xerox’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. research analysts expect that Xerox Corp will post 3.43 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, March 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.31%. The ex-dividend date is Wednesday, March 28th. Xerox’s dividend payout ratio (DPR) is presently 158.73%.

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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.

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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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