Louisiana State Employees Retirement System cut its position in shares of Xerox Corporation (NYSE:XRX) by 74.8% during the second quarter, Holdings Channel reports. The fund owned 13,225 shares of the information technology services provider’s stock after selling 39,275 shares during the period. Louisiana State Employees Retirement System’s holdings in Xerox Corporation were worth $380,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new stake in Xerox Corporation during the first quarter worth approximately $106,000. United Asset Strategies Inc. acquired a new stake in Xerox Corporation during the first quarter worth approximately $107,000. Cypress Wealth Advisors LLC increased its stake in Xerox Corporation by 42.8% in the first quarter. Cypress Wealth Advisors LLC now owns 15,035 shares of the information technology services provider’s stock worth $110,000 after buying an additional 4,508 shares during the last quarter. National Asset Management Inc. acquired a new stake in Xerox Corporation during the first quarter worth approximately $113,000. Finally, Ronald Blue & Co. LLC acquired a new stake in Xerox Corporation during the first quarter worth approximately $121,000.

Xerox Corporation (XRX) traded up 0.078% during trading on Tuesday, hitting $32.155. 574,910 shares of the company were exchanged. The company has a 50-day moving average of $30.22 and a 200-day moving average of $29.03. Xerox Corporation has a 12 month low of $24.86 and a 12 month high of $32.99. The company’s market capitalization is $8.17 billion.

Xerox Corporation (NYSE:XRX) last posted its quarterly earnings data on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.60 billion. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The company’s revenue was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 earnings per share. Analysts forecast that Xerox Corporation will post $3.36 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Thursday, September 28th. This is a positive change from Xerox Corporation’s previous quarterly dividend of $0.06. Xerox Corporation’s payout ratio is currently 12.08%.

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XRX has been the subject of a number of recent research reports. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $34.00 price objective on shares of Xerox Corporation in a report on Wednesday, April 26th. Loop Capital began coverage on shares of Xerox Corporation in a research note on Monday, July 24th. They issued a “buy” rating and a $36.00 price target for the company. Citigroup Inc. set a $39.00 price target on shares of Xerox Corporation and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Barclays PLC raised shares of Xerox Corporation from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $27.00 to $33.00 in a research note on Monday, July 24th. Finally, BidaskClub raised shares of Xerox Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $37.23.

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 includes service offerings, such as BPO and Document Outsourcing (DO). It provides business services in markets across various industries and to government agencies.

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Institutional Ownership by Quarter for Xerox Corporation (NYSE:XRX)

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