Clearline Capital LP lessened its stake in shares of Xerox Corp (NYSE:XRX) by 53.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 69,912 shares of the information technology services provider’s stock after selling 80,015 shares during the period. Xerox makes up approximately 1.2% of Clearline Capital LP’s holdings, making the stock its 29th largest holding. Clearline Capital LP’s holdings in Xerox were worth $2,476,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in XRX. Gradient Investments LLC increased its stake 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 purchasing an additional 736 shares during the period. Coastal Investment Advisors Inc. purchased a new stake in Xerox in the second quarter worth $32,000. CWM LLC increased its stake 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 purchasing an additional 360 shares during the period. NuWave Investment Management LLC increased its stake 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 purchasing an additional 992 shares during the period. Finally, Ossiam purchased a new stake in Xerox in the second quarter worth $143,000. Institutional investors own 84.77% of the company’s stock.

In other news, EVP Herve Tessler sold 32,200 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $31.22, for a total transaction of $1,005,284.00. Following the transaction, the executive vice president now owns 11,804 shares of the company’s stock, valued at approximately $368,520.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

XRX has been the topic of a number of recent analyst reports. ValuEngine lowered Xerox from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered Xerox from a “hold” rating to a “sell” rating and set a $32.00 target price on the stock. in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $36.00.

XRX stock traded up $0.06 during midday trading on Thursday, reaching $30.64. The company’s stock had a trading volume of 11,399 shares, compared to its average volume of 1,800,257. Xerox Corp has a 1 year low of $18.58 and a 1 year high of $36.58. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.09 and a current ratio of 1.33. The stock has a fifty day simple moving average of $29.44 and a two-hundred day simple moving average of $32.35. The firm has a market capitalization of $6.98 billion, a price-to-earnings ratio of 8.85 and a beta of 1.76.

Xerox (NYSE:XRX) last posted its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. Xerox had a return on equity of 18.78% and a net margin of 5.76%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The business’s revenue was down 8.8% compared to the same quarter last year. As a group, analysts forecast that Xerox Corp will post 3.89 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, September 27th. Xerox’s payout ratio is 28.90%.

Xerox 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.

Recommended Story: Short Selling

Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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.