Prudential Financial Inc. lowered its stake in Xerox Corp (NYSE:XRX) by 11.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 351,492 shares of the information technology services provider’s stock after selling 45,850 shares during the period. Prudential Financial Inc. owned approximately 0.15% of Xerox worth $9,484,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in XRX. Janney Montgomery Scott LLC lifted its position in shares of Xerox by 20.4% during the second quarter. Janney Montgomery Scott LLC now owns 12,850 shares of the information technology services provider’s stock valued at $308,000 after buying an additional 2,174 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Xerox by 83.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 22,477 shares of the information technology services provider’s stock valued at $539,000 after buying an additional 10,231 shares during the last quarter. TD Asset Management Inc. lifted its position in shares of Xerox by 8.5% during the second quarter. TD Asset Management Inc. now owns 231,026 shares of the information technology services provider’s stock valued at $5,545,000 after buying an additional 18,080 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Xerox by 130.4% during the second quarter. Commonwealth Equity Services LLC now owns 47,863 shares of the information technology services provider’s stock valued at $1,149,000 after buying an additional 27,091 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Xerox by 6.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 717,759 shares of the information technology services provider’s stock valued at $17,226,000 after buying an additional 45,907 shares during the last quarter. 87.68% of the stock is owned by institutional investors.

In other news, insider Michael David Feldman sold 3,729 shares of the company’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $29.00, for a total transaction of $108,141.00. Following the transaction, the insider now owns 2,869 shares in the company, valued at $83,201. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

XRX opened at $26.70 on Wednesday. Xerox Corp has a 52-week low of $23.52 and a 52-week high of $37.42. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.47 and a current ratio of 1.82. The stock has a market cap of $6.41 billion, a PE ratio of 7.67 and a beta of 1.06.

Xerox (NYSE:XRX) last posted its quarterly earnings data on Tuesday, October 23rd. The information technology services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.07. Xerox had a net margin of 0.34% and a return on equity of 16.50%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, analysts anticipate that Xerox Corp will post 3.42 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Monday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, December 28th. This represents a $1.00 annualized dividend and a dividend yield of 3.75%. Xerox’s dividend payout ratio (DPR) is currently 28.74%.

Several analysts have commented on the stock. Zacks Investment Research raised shares of Xerox from a “sell” rating to a “hold” rating in a research report on Thursday, September 20th. Citigroup decreased their price target on shares of Xerox from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th. Finally, ValuEngine raised shares of Xerox from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Xerox currently has an average rating of “Buy” and an average target price of $35.10.

WARNING: “Prudential Financial Inc. Has $9.48 Million Holdings in Xerox Corp (XRX)” was first reported by Watch List News and is the sole property of of Watch List News. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://www.watchlistnews.com/prudential-financial-inc-has-9-48-million-holdings-in-xerox-corp-xrx/2662678.html.

Xerox Profile

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.

Recommended Story: Technical Analysis of Stocks and What It Means

Want to see what other hedge funds are holding XRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Xerox Corp (NYSE:XRX).

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.