Xerox (NYSE:XRX) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $41.00 to $40.00 in a research note issued on Tuesday. The firm presently has an “overweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 36.80% from the stock’s previous close.

XRX has been the topic of a number of other research reports. Zacks Investment Research raised Xerox from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. UBS Group raised Xerox from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Loop Capital reaffirmed a “buy” rating on shares of Xerox in a report on Thursday, February 1st. Finally, Standpoint Research reaffirmed a “hold” rating on shares of Xerox in a report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $35.72.

Shares of Xerox (NYSE XRX) traded down $0.71 on Tuesday, reaching $29.24. The company’s stock had a trading volume of 432,321 shares, compared to its average volume of 3,045,953. Xerox has a 12 month low of $26.64 and a 12 month high of $37.42. The stock has a market cap of $7,539.09, a price-to-earnings ratio of 46.41 and a beta of 1.13. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.91 and a quick ratio of 1.57.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Wednesday, January 31st. The information technology services provider reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.08. Xerox had a return on equity of 17.13% and a net margin of 1.67%. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the previous year, the company earned $1.00 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. equities analysts predict that Xerox will post 3.43 EPS for the current fiscal year.

In other news, insider Carl C. Icahn sold 140,011 shares of Xerox stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $32.50, for a total transaction of $4,550,357.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carl C. Icahn sold 1,161,404 shares of Xerox stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $34.49, for a total transaction of $40,056,823.96. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Advisor Partners LLC acquired a new stake in shares of Xerox during the 4th quarter valued at approximately $204,000. D.A. Davidson & CO. acquired a new position in shares of Xerox during the 4th quarter worth approximately $202,000. Keybank National Association OH acquired a new position in shares of Xerox during the 3rd quarter worth approximately $233,000. Conning Inc. acquired a new position in shares of Xerox during the 4th quarter worth approximately $215,000. Finally, Contravisory Investment Management Inc. raised its position in shares of Xerox by 10,970.1% during the 4th quarter. Contravisory Investment Management Inc. now owns 7,417 shares of the information technology services provider’s stock worth $216,000 after purchasing an additional 7,350 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

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About Xerox

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.

Analyst Recommendations for Xerox (NYSE:XRX)

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