John G Ullman & Associates Inc. cut its position in shares of Xerox Corp (NYSE:XRX) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,839 shares of the information technology services provider’s stock after selling 1,900 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Xerox were worth $3,323,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Gradient Investments LLC increased its position in Xerox by 751.0% in the second quarter. Gradient Investments LLC now owns 834 shares of the information technology services provider’s stock worth $30,000 after buying an additional 736 shares during the period. Coastal Investment Advisors Inc. acquired a new stake in Xerox in the second quarter worth $32,000. CWM LLC increased its position in Xerox by 57.9% in the second quarter. CWM LLC now owns 982 shares of the information technology services provider’s stock worth $35,000 after buying an additional 360 shares during the period. NuWave Investment Management LLC increased its position in Xerox by 422.1% in the second quarter. NuWave Investment Management LLC now owns 1,227 shares of the information technology services provider’s stock worth $43,000 after buying an additional 992 shares during the period. Finally, Hanseatic Management Services Inc. acquired a new stake in Xerox in the first quarter worth $149,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.
XRX has been the topic of several analyst reports. ValuEngine lowered Xerox from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered Xerox from a “hold” rating to a “sell” rating and set a $31.00 target price on the stock. in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Xerox has a consensus rating of “Hold” and a consensus target price of $35.67.
NYSE XRX traded up $0.64 during trading hours on Friday, hitting $28.57. The company had a trading volume of 1,504,200 shares, compared to its average volume of 2,520,682. Xerox Corp has a fifty-two week low of $18.58 and a fifty-two week high of $36.58. The company has a quick ratio of 1.09, a current ratio of 1.33 and a debt-to-equity ratio of 0.79. The business has a fifty day simple moving average of $33.20 and a 200-day simple moving average of $32.50. The firm has a market cap of $6.20 billion, a P/E ratio of 8.26 and a beta of 1.74.
Xerox (NYSE:XRX) last issued its earnings results on Tuesday, July 30th. The information technology services provider reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.06. Xerox had a return on equity of 18.78% and a net margin of 5.76%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the company earned $0.80 earnings per share. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities analysts forecast that Xerox Corp will post 3.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Thursday, June 27th. Xerox’s dividend payout ratio (DPR) is 28.90%.
Xerox Company Profile
Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.
Featured Article: Why is the price-sales ratio important?
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.