Janney Montgomery Scott LLC increased its position in shares of Xerox Corp (NYSE:XRX) by 20.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,850 shares of the information technology services provider’s stock after purchasing an additional 2,174 shares during the period. Janney Montgomery Scott LLC’s holdings in Xerox were worth $308,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allen Capital Group LLC increased its position in shares of Xerox by 10.5% during the first quarter. Allen Capital Group LLC now owns 18,355 shares of the information technology services provider’s stock valued at $528,000 after purchasing an additional 1,746 shares during the period. Raymond James & Associates boosted its stake in Xerox by 7.9% in the 4th quarter. Raymond James & Associates now owns 27,118 shares of the information technology services provider’s stock valued at $791,000 after buying an additional 1,988 shares in the last quarter. BLB&B Advisors LLC boosted its stake in Xerox by 9.7% in the 2nd quarter. BLB&B Advisors LLC now owns 22,637 shares of the information technology services provider’s stock valued at $543,000 after buying an additional 2,000 shares in the last quarter. M&T Bank Corp boosted its stake in Xerox by 14.2% in the 1st quarter. M&T Bank Corp now owns 17,600 shares of the information technology services provider’s stock valued at $507,000 after buying an additional 2,188 shares in the last quarter. Finally, DnB Asset Management AS boosted its stake in Xerox by 12.4% in the 2nd quarter. DnB Asset Management AS now owns 21,712 shares of the information technology services provider’s stock valued at $521,000 after buying an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 84.15% of the company’s stock.
Shares of XRX stock opened at $26.94 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $6.69 billion, a P/E ratio of 7.74 and a beta of 1.18. Xerox Corp has a one year low of $23.52 and a one year high of $37.42.
Xerox (NYSE:XRX) last posted its quarterly earnings data on Thursday, July 26th. The information technology services provider reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.49 billion. Xerox had a return on equity of 16.63% and a net margin of 1.22%. Xerox’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 EPS. research analysts expect that Xerox Corp will post 3.3 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Thursday, September 27th. Xerox’s dividend payout ratio is currently 28.74%.
Several brokerages recently commented on XRX. ValuEngine lowered Xerox from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 26th. Cross Research lowered Xerox from a “buy” rating to a “hold” rating in a research note on Monday, May 14th. Zacks Investment Research raised Xerox from a “sell” rating to a “hold” rating in a research note on Friday. Loop Capital decreased their price target on Xerox to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, May 16th. Finally, Standpoint Research raised Xerox from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $35.75.
In other Xerox news, Chairman Keith Cozza acquired 50,000 shares of Xerox stock in a transaction on Friday, July 27th. The shares were bought at an average price of $25.42 per share, with a total value of $1,271,000.00. Following the completion of the purchase, the chairman now owns 50,000 shares in the company, valued at $1,271,000. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Herve Tessler sold 16,567 shares of the business’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $26.03, for a total value of $431,239.01. Following the completion of the transaction, the insider now directly owns 34,647 shares in the company, valued at approximately $901,861.41. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.
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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