Commonwealth Equity Services Inc Reduces Stake in Xerox Corporation (XRX)
Commonwealth Equity Services Inc cut its position in Xerox Corporation (NYSE:XRX) by 2.2% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 74,410 shares of the company’s stock after selling 1,638 shares during the period. Commonwealth Equity Services Inc’s holdings in Xerox Corporation were worth $754,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of XRX. Candriam Luxembourg S.C.A. boosted its stake in Xerox Corporation by 3.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 69,688 shares of the company’s stock worth $661,000 after buying an additional 2,380 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Xerox Corporation by 96.4% in the second quarter. Retirement Systems of Alabama now owns 956,155 shares of the company’s stock worth $9,074,000 after buying an additional 469,410 shares in the last quarter. Conning Inc. boosted its position in shares of Xerox Corporation by 1.1% in the second quarter. Conning Inc. now owns 41,728 shares of the company’s stock worth $396,000 after buying an additional 450 shares in the last quarter. Canandaigua National Bank & Trust Co. boosted its position in shares of Xerox Corporation by 7.3% in the second quarter. Canandaigua National Bank & Trust Co. now owns 53,093 shares of the company’s stock worth $504,000 after buying an additional 3,602 shares in the last quarter. Finally, Strs Ohio boosted its position in shares of Xerox Corporation by 6.0% in the second quarter. Strs Ohio now owns 124,448 shares of the company’s stock worth $1,181,000 after buying an additional 7,048 shares in the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.
Shares of Xerox Corporation (NYSE:XRX) traded up 1.59% during mid-day trading on Friday, reaching $7.05. 10,081,345 shares of the company’s stock traded hands. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 11.83 and a beta of 1.17. The firm’s 50 day moving average price is $8.62 and its 200-day moving average price is $9.45. Xerox Corporation has a 12-month low of $6.46 and a 12-month high of $11.39.
Xerox Corporation (NYSE:XRX) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.27. Xerox Corporation had a return on equity of 12.62% and a net margin of 3.74%. The company earned $4.20 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the company posted $0.24 earnings per share. Xerox Corporation’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts forecast that Xerox Corporation will post $0.90 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Thursday, December 15th will be issued a $0.0775 dividend. This represents a $0.31 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend is Tuesday, December 13th. Xerox Corporation’s payout ratio is presently 50.00%.
A number of research analysts have recently issued reports on the stock. Goldman Sachs Group, Inc. (The) upgraded shares of Xerox Corporation from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $10.50 to $8.50 in a report on Tuesday. Zacks Investment Research cut shares of Xerox Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 19th. Morgan Stanley assumed coverage on shares of Xerox Corporation in a report on Thursday. They set an “overweight” rating and a $9.00 price objective for the company. Cross Research assumed coverage on shares of Xerox Corporation in a report on Thursday, January 5th. They set a “buy” rating for the company. Finally, Vetr cut shares of Xerox Corporation from a “strong-buy” rating to a “buy” rating and set a $7.76 price objective for the company. in a report on Thursday. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Xerox Corporation currently has an average rating of “Hold” and a consensus target price of $10.43.
In other Xerox Corporation news, CFO Leslie F. Varon sold 3,510 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $9.45, for a total value of $33,169.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Ursula M. Burns sold 74,815 shares of the business’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $9.51, for a total value of $711,490.65. The disclosure for this sale can be found here. 0.37% of the stock is owned by company insiders.
Xerox Corporation 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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