JPMorgan Chase & Co. lowered its holdings in shares of Xerox Corporation (NYSE:XRX) by 21.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,922,525 shares of the information technology services provider’s stock after selling 518,807 shares during the period. JPMorgan Chase & Co. owned about 0.76% of Xerox worth $65,096,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in XRX. Seven Eight Capital LP bought a new position in shares of Xerox during the second quarter valued at $154,000. Penserra Capital Management LLC acquired a new stake in shares of Xerox during the second quarter worth $164,000. Risk Paradigm Group LLC acquired a new stake in shares of Xerox during the second quarter worth $176,000. W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in shares of Xerox during the second quarter worth $231,000. Finally, Keybank National Association OH acquired a new stake in shares of Xerox during the third quarter worth $233,000. 84.03% of the stock is owned by hedge funds and other institutional investors.

Xerox Corporation (NYSE XRX) traded up $0.20 during trading hours on Thursday, reaching $29.64. 1,404,600 shares of the company’s stock were exchanged, compared to its average volume of 2,414,588. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.63 and a quick ratio of 1.33. The firm has a market capitalization of $7,495.02, a PE ratio of 8.76 and a beta of 1.12. Xerox Corporation has a 1-year low of $25.84 and a 1-year high of $39.08.

Xerox (NYSE:XRX) last posted its quarterly earnings results on Thursday, October 26th. The information technology services provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.06. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Xerox had a net margin of 5.29% and a return on equity of 17.23%. The business’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period last year, the company posted $0.84 earnings per share. research analysts forecast that Xerox Corporation will post 3.38 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders 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 yield of 3.37%. The ex-dividend date of this dividend is Thursday, December 28th. Xerox’s payout ratio is 48.31%.

Several research firms have recently weighed in on XRX. UBS reiterated a “hold” rating and set a $34.50 price objective on shares of Xerox in a research report on Tuesday. BidaskClub upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Barclays reiterated an “equal weight” rating and set a $35.00 price objective (up from $33.00) on shares of Xerox in a research report on Tuesday, September 12th. Zacks Investment Research cut shares of Xerox from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, ValuEngine upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $35.50.

In other Xerox news, EVP Herve Tessler sold 6,000 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $28.59, for a total value of $171,540.00. Following the completion of the sale, the executive vice president now directly owns 35,878 shares in the company, valued at $1,025,752.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

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Xerox Company Profile

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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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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