Natixis reduced its holdings in shares of Xerox Corp (NYSE:XRX) by 8.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 730,740 shares of the information technology services provider’s stock after selling 68,394 shares during the quarter. Natixis owned about 0.29% of Xerox worth $21,031,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Rampart Investment Management Company LLC lifted its position in shares of Xerox by 105.3% in the 1st quarter. Rampart Investment Management Company LLC now owns 6,095 shares of the information technology services provider’s stock worth $175,000 after purchasing an additional 3,126 shares during the period. D.A. Davidson & CO. purchased a new position in Xerox during the 4th quarter valued at about $202,000. First Allied Advisory Services Inc. bought a new stake in Xerox during the 1st quarter valued at about $200,000. Sciencast Management LP bought a new stake in Xerox during the 4th quarter valued at about $233,000. Finally, Ostrum Asset Management bought a new stake in Xerox during the 1st quarter valued at about $215,000. Institutional investors own 82.97% of the company’s stock.
Shares of Xerox opened at $24.00 on Friday, according to MarketBeat.com. The company has a market cap of $6.16 billion, a PE ratio of 6.90 and a beta of 1.13. Xerox Corp has a 12 month low of $23.52 and a 12 month high of $37.42. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.39 and a current ratio of 1.71.
Xerox (NYSE:XRX) last released its quarterly earnings results on Thursday, May 3rd. The information technology services provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.39 billion. Xerox had a net margin of 1.74% and a return on equity of 17.08%. Xerox’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 EPS. analysts forecast that Xerox Corp will post 3.49 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, June 29th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.00 annualized dividend and a dividend yield of 4.17%. Xerox’s dividend payout ratio is presently 28.74%.
XRX has been the subject of several recent research reports. ValuEngine lowered shares of Xerox from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Cross Research downgraded shares of Xerox from a “buy” rating to a “hold” rating in a report on Monday, May 14th. Loop Capital lowered their target price on shares of Xerox to $40.00 and set a “buy” rating on the stock in a report on Wednesday, May 16th. TheStreet cut shares of Xerox from a “b-” rating to a “c+” rating in a research report on Tuesday, May 15th. Finally, 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 Monday, May 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $36.21.
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.
Receive News & Ratings for Xerox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xerox and related companies with MarketBeat.com's FREE daily email newsletter.