Wellington Shields & Co. LLC purchased a new position in Xerox Corp (NYSE:XRX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,559 shares of the information technology services provider’s stock, valued at approximately $204,000.
Several other institutional investors have also modified their holdings of the stock. BLB&B Advisors LLC increased its stake in shares of 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 worth $543,000 after acquiring an additional 2,000 shares in the last quarter. Neuburgh Advisers LLC increased its stake in shares of Xerox by 14.0% in the 2nd quarter. Neuburgh Advisers LLC now owns 16,302 shares of the information technology services provider’s stock worth $391,000 after acquiring an additional 2,002 shares in the last quarter. State of Wisconsin Investment Board increased its stake in shares of Xerox by 0.8% in the 2nd quarter. State of Wisconsin Investment Board now owns 265,236 shares of the information technology services provider’s stock worth $6,366,000 after acquiring an additional 2,004 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Xerox by 20.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 12,055 shares of the information technology services provider’s stock worth $289,000 after acquiring an additional 2,051 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Xerox by 20.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 12,850 shares of the information technology services provider’s stock worth $308,000 after acquiring an additional 2,174 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.
NYSE:XRX traded down $0.19 on Friday, reaching $28.95. 13,716 shares of the stock traded hands, compared to its average volume of 3,928,289. The firm has a market cap of $6.91 billion, a P/E ratio of 8.34 and a beta of 1.13. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.47 and a current ratio of 1.82. Xerox Corp has a 12 month low of $23.52 and a 12 month high of $37.42.
Xerox (NYSE:XRX) last released its quarterly earnings data on Tuesday, October 23rd. The information technology services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.42 billion. Xerox had a net margin of 0.34% and a return on equity of 16.50%. Xerox’s revenue was down 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.89 EPS. On average, equities research analysts predict that Xerox Corp will post 3.42 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.00 dividend on an annualized basis and a yield of 3.45%. Xerox’s dividend payout ratio is currently 28.74%.
A number of analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Xerox from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective for the company in a research note on Friday, October 26th. JPMorgan Chase & Co. reduced their price objective on shares of Xerox from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, July 27th. ValuEngine upgraded shares of Xerox from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 24th. Finally, Citigroup reduced their price objective on shares of Xerox from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $35.10.
In other Xerox news, insider Michael David Feldman sold 3,729 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $29.00, for a total transaction of $108,141.00. Following the completion of the sale, the insider now directly owns 2,869 shares in the company, valued at approximately $83,201. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.
TRADEMARK VIOLATION WARNING: “7,559 Shares in Xerox Corp (XRX) Acquired by Wellington Shields & Co. LLC” was originally published by Macon Daily and is the property of of Macon Daily. If you are viewing this news story on another site, it was illegally stolen and republished in violation of United States & international trademark and copyright laws. The original version of this news story can be viewed at https://macondaily.com/2018/11/09/7559-shares-in-xerox-corp-xrx-acquired-by-wellington-shields-co-llc.html.
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.
Further Reading: Technical Analysis of Stocks, How Can It Help
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.