Millennium Management LLC boosted its position in Xerox Corp (NYSE:XRX) by 239.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,698,526 shares of the information technology services provider’s stock after acquiring an additional 1,197,972 shares during the period. Millennium Management LLC owned 0.67% of Xerox worth $48,884,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in XRX. Banco de Sabadell S.A bought a new stake in shares of Xerox in the first quarter worth approximately $739,000. Sciencast Management LP grew its position in Xerox by 295.7% during the first quarter. Sciencast Management LP now owns 28,394 shares of the information technology services provider’s stock valued at $851,000 after buying an additional 21,219 shares during the period. Amundi Pioneer Asset Management Inc. grew its position in Xerox by 15.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 189,345 shares of the information technology services provider’s stock valued at $5,448,000 after buying an additional 25,009 shares during the period. Freestone Capital Holdings LLC lifted its holdings in Xerox by 8.7% during the first quarter. Freestone Capital Holdings LLC now owns 154,640 shares of the information technology services provider’s stock valued at $4,451,000 after purchasing an additional 12,369 shares in the last quarter. Finally, Clearline Capital LP purchased a new position in Xerox during the first quarter valued at approximately $1,281,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.
XRX has been the topic of several research analyst reports. ValuEngine raised shares of Xerox from a “hold” rating to a “buy” rating in a report on Saturday, April 21st. JPMorgan Chase & Co. cut shares of Xerox from an “overweight” rating to a “neutral” rating and set a $40.00 price objective on the stock. in a research report on Monday, May 14th. Cross Research cut shares of Xerox from a “buy” rating to a “hold” rating in a report on Monday, May 14th. Zacks Investment Research upgraded shares of Xerox from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Wednesday, May 16th. Finally, TheStreet lowered shares of Xerox from a “b-” rating to a “c+” rating in a research note on Tuesday, May 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $36.21.
Xerox opened at $24.00 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.39 and a current ratio of 1.71. The firm has a market capitalization of $6.16 billion, a P/E ratio of 6.90 and a beta of 1.13. Xerox Corp has a 1 year low of $23.52 and a 1 year high of $37.42.
Xerox (NYSE:XRX) last announced its quarterly earnings data on Thursday, May 3rd. The information technology services provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Xerox had a net margin of 1.74% and a return on equity of 17.08%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 EPS. analysts forecast that Xerox Corp will post 3.49 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Friday, June 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 4.17%. The ex-dividend date is Thursday, June 28th. Xerox’s payout ratio is 28.74%.
Xerox Company Profile
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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