Ameriprise Financial Inc. Acquires 1,197,634 Shares of Xerox Corporation (XRX)
Ameriprise Financial Inc. raised its holdings in shares of Xerox Corporation (NYSE:XRX) by 37.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,392,867 shares of the information technology services provider’s stock after purchasing an additional 1,197,634 shares during the quarter. Ameriprise Financial Inc. owned 1.73% of Xerox Corporation worth $146,243,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Nomura Holdings Inc. bought a new stake in Xerox Corporation during the 2nd quarter valued at $470,000. Denali Advisors LLC increased its stake in Xerox Corporation by 28.1% during the 3rd quarter. Denali Advisors LLC now owns 54,000 shares of the information technology services provider’s stock valued at $1,798,000 after purchasing an additional 11,850 shares in the last quarter. Aperio Group LLC increased its stake in Xerox Corporation by 7.1% during the 3rd quarter. Aperio Group LLC now owns 266,423 shares of the information technology services provider’s stock valued at $8,869,000 after purchasing an additional 17,565 shares in the last quarter. AXA increased its stake in Xerox Corporation by 10.9% during the 2nd quarter. AXA now owns 1,438,621 shares of the information technology services provider’s stock valued at $41,331,000 after purchasing an additional 141,790 shares in the last quarter. Finally, United Asset Strategies Inc. increased its stake in Xerox Corporation by 56.4% during the 3rd quarter. United Asset Strategies Inc. now owns 25,978 shares of the information technology services provider’s stock valued at $865,000 after purchasing an additional 9,367 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.
Xerox Corporation (NYSE XRX) traded up $0.20 during midday trading on Friday, hitting $28.49. 675,277 shares of the stock traded hands, compared to its average volume of 2,359,915. Xerox Corporation has a 12-month low of $25.84 and a 12-month high of $39.08. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.33 and a current ratio of 1.63. The company has a market cap of $7,202.24, a price-to-earnings ratio of 8.42 and a beta of 1.14.
Xerox Corporation (NYSE:XRX) last posted its earnings results on Thursday, October 26th. The information technology services provider reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.06. Xerox Corporation had a net margin of 5.29% and a return on equity of 17.23%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The business’s revenue was down 5.0% compared to the same quarter last year. equities analysts forecast that Xerox Corporation will post 3.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Thursday, December 28th. Xerox Corporation’s dividend payout ratio (DPR) is currently 48.31%.
A number of brokerages have commented on XRX. Zacks Investment Research upgraded shares of Xerox Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. UBS AG reduced their target price on shares of Xerox Corporation from $36.00 to $34.50 and set a “neutral” rating for the company in a research note on Friday, October 27th. Barclays PLC reiterated an “equal weight” rating and issued a $35.00 target price (up previously from $33.00) on shares of Xerox Corporation in a research note on Tuesday, September 12th. ValuEngine upgraded shares of Xerox Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub upgraded shares of Xerox Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $35.50.
In related news, EVP Herve Tessler sold 6,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $28.59, for a total value of $171,540.00. Following the transaction, the executive vice president now directly owns 35,878 shares of the company’s stock, valued at approximately $1,025,752.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by insiders.
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About Xerox Corporation
Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.
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