Canandaigua National Bank & Trust Co. Has $504,000 Stake in Xerox Corp. (XRX)
Canandaigua National Bank & Trust Co. increased its position in Xerox Corp. (NYSE:XRX) by 7.3% during the second quarter, Holdings Channel reports. The fund owned 53,093 shares of the company’s stock after buying an additional 3,602 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Xerox Corp. were worth $504,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Xerox Corp. during the fourth quarter worth approximately $114,711,000. Geode Capital Management LLC boosted its stake in shares of Xerox Corp. by 2.4% in the first quarter. Geode Capital Management LLC now owns 9,516,399 shares of the company’s stock worth $106,030,000 after buying an additional 219,384 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Xerox Corp. by 0.7% in the second quarter. Acadian Asset Management LLC now owns 8,685,139 shares of the company’s stock worth $82,420,000 after buying an additional 59,954 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Xerox Corp. by 4.7% in the first quarter. Panagora Asset Management Inc. now owns 8,273,775 shares of the company’s stock worth $92,335,000 after buying an additional 371,056 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Xerox Corp. by 13.1% in the first quarter. TIAA CREF Investment Management LLC now owns 6,001,043 shares of the company’s stock worth $66,972,000 after buying an additional 696,558 shares during the last quarter. Institutional investors and hedge funds own 83.90% of the company’s stock.
Xerox Corp. (NYSE:XRX) traded up 1.33% during midday trading on Wednesday, hitting $9.94. The stock had a trading volume of 6,237,834 shares. The company has a market cap of $10.07 billion, a PE ratio of 25.95 and a beta of 1.36. Xerox Corp. has a 12-month low of $8.48 and a 12-month high of $11.39. The firm has a 50-day moving average of $9.81 and a 200-day moving average of $9.98.
Xerox Corp. (NYSE:XRX) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. The business earned $4.40 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Xerox Corp. had a return on equity of 12.36% and a net margin of 2.49%. The company’s revenue for the quarter was down 69.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. Equities research analysts forecast that Xerox Corp. will post $1.13 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a $0.0775 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.31 annualized dividend and a dividend yield of 3.12%. Xerox Corp.’s dividend payout ratio is presently 75.61%.
Several analysts recently issued reports on the company. SunTrust Banks Inc. assumed coverage on Xerox Corp. in a research report on Tuesday, September 13th. They set a “buy” rating and a $13.00 target price for the company. Brean Capital reiterated a “hold” rating on shares of Xerox Corp. in a research report on Monday, August 1st. Zacks Investment Research cut Xerox Corp. from a “hold” rating to a “sell” rating in a research report on Monday, June 27th. Vetr cut Xerox Corp. from a “strong-buy” rating to a “hold” rating and set a $9.96 target price for the company. in a research report on Tuesday, September 13th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating on shares of Xerox Corp. in a research report on Saturday, July 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.05.
In related news, Chairman Ursula M. Burns sold 3,317 shares of Xerox Corp. stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $9.85, for a total value of $32,672.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James A. Firestone sold 50,000 shares of Xerox Corp. stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $9.36, for a total value of $468,000.00. Following the completion of the transaction, the executive vice president now owns 53,476 shares of the company’s stock, valued at approximately $500,535.36. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.
Xerox Corp. Company Profile
Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment comprises two types of service offerings: Business Process Outsourcing (BPO) and Document Outsourcing (DO).
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