Sei Investments Co. cut its stake in Xerox Corp (NYSE:XRX) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,275 shares of the information technology services provider’s stock after selling 4,135 shares during the quarter. Sei Investments Co.’s holdings in Xerox were worth $1,821,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in XRX. First Allied Advisory Services Inc. purchased a new position in shares of Xerox in the 1st quarter valued at $200,000. D.A. Davidson & CO. purchased a new position in shares of Xerox in the 4th quarter valued at $202,000. Altfest L J & Co. Inc. purchased a new position in shares of Xerox in the 1st quarter valued at $223,000. Sciencast Management LP purchased a new position in shares of Xerox in the 4th quarter valued at $233,000. Finally, Synovus Financial Corp purchased a new position in shares of Xerox in the 1st quarter valued at $275,000. Institutional investors and hedge funds own 83.11% of the company’s stock.
Xerox opened at $26.40 on Monday, MarketBeat Ratings reports. The company has a quick ratio of 1.39, a current ratio of 1.71 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $6.75 billion, a PE ratio of 7.59 and a beta of 1.13. Xerox Corp has a 1-year low of $26.31 and a 1-year high of $37.42.
Xerox (NYSE:XRX) last posted its quarterly earnings data on Thursday, May 3rd. The information technology services provider reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.05). The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.39 billion. Xerox had a return on equity of 17.08% and a net margin of 1.74%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 EPS. equities research analysts expect that Xerox Corp will post 3.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Friday, June 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.00 dividend on an annualized basis and a yield of 3.79%. Xerox’s dividend payout ratio is currently 28.74%.
A number of research analysts have recently issued reports on XRX shares. Zacks Investment Research downgraded Xerox from a “buy” rating to a “hold” rating in a report on Saturday, April 7th. ValuEngine raised Xerox from a “hold” rating to a “buy” rating in a research report on Saturday, April 21st. TheStreet cut Xerox from a “b-” rating to a “c+” rating in a research report on Tuesday, May 15th. JPMorgan Chase & Co. cut Xerox from an “overweight” rating to a “neutral” rating and set a $40.00 price objective for the company. in a research report on Monday, May 14th. Finally, Loop Capital lowered their price objective on Xerox to $40.00 and set a “buy” rating for the company in a research report on Wednesday, May 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $36.21.
Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.
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