UBS Asset Management Americas Inc. Lowers Holdings in Xerox Corporation (XRX)
UBS Asset Management Americas Inc. trimmed its position in Xerox Corporation (NYSE:XRX) by 73.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 768,066 shares of the information technology services provider’s stock after selling 2,102,142 shares during the quarter. UBS Asset Management Americas Inc. owned 0.30% of Xerox Corporation worth $22,067,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Cypress Wealth Advisors LLC lifted its holdings in shares of Xerox Corporation by 42.8% in the 1st 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 period. National Asset Management Inc. bought a new position in shares of Xerox Corporation in the 1st quarter worth $113,000. Baird Financial Group Inc. raised its position in shares of Xerox Corporation by 58.3% in the 1st quarter. Baird Financial Group Inc. now owns 17,207 shares of the information technology services provider’s stock worth $126,000 after acquiring an additional 6,340 shares in the last quarter. Cleararc Capital Inc. raised its position in shares of Xerox Corporation by 1.0% in the 1st quarter. Cleararc Capital Inc. now owns 20,881 shares of the information technology services provider’s stock worth $153,000 after acquiring an additional 207 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of Xerox Corporation in the 2nd quarter worth $154,000. Institutional investors and hedge funds own 84.13% of the company’s stock.
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Xerox Corporation (NYSE XRX) opened at 33.29 on Friday. The firm’s market capitalization is $8.46 billion. Xerox Corporation has a 12 month low of $22.90 and a 12 month high of $33.84. The company’s 50-day moving average price is $32.16 and its 200 day moving average price is $29.58.
Xerox Corporation (NYSE:XRX) last released its earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.03. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.60 billion. Xerox Corporation had a return on equity of 15.28% and a net margin of 4.55%. Xerox Corporation’s revenue was down 8.1% compared to the same quarter last year. During the same period last year, the business posted $0.26 earnings per share. Analysts predict that Xerox Corporation will post $3.36 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 28th. This is a positive change from Xerox Corporation’s previous quarterly dividend of $0.06. This represents a $1.00 dividend on an annualized basis and a yield of 3.00%. Xerox Corporation’s dividend payout ratio (DPR) is 48.31%.
XRX has been the subject of several recent research reports. Morgan Stanley reissued an “overweight” rating and issued a $32.00 price target on shares of Xerox Corporation in a research report on Saturday, June 3rd. ValuEngine raised Xerox Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Zacks Investment Research lowered Xerox Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. BidaskClub raised Xerox Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 20th. Finally, Barclays PLC reissued a “sell” rating and issued a $27.00 price target on shares of Xerox Corporation in a research report on Friday, June 23rd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $35.63.
Xerox Corporation 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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