Korea Investment CORP lowered its position in shares of Xerox Corp (NYSE:XRX) by 66.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,879 shares of the information technology services provider’s stock after selling 40,500 shares during the period. Korea Investment CORP’s holdings in Xerox were worth $563,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Boston Partners increased its holdings in shares of Xerox by 45.1% in the second quarter. Boston Partners now owns 9,088,855 shares of the information technology services provider’s stock worth $218,133,000 after buying an additional 2,824,360 shares during the period. Indus Capital Partners LLC purchased a new position in shares of Xerox in the second quarter worth about $64,974,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Xerox in the third quarter worth about $22,933,000. Morgan Stanley increased its holdings in shares of Xerox by 47.3% in the second quarter. Morgan Stanley now owns 1,751,474 shares of the information technology services provider’s stock worth $42,035,000 after buying an additional 562,228 shares during the period. Finally, First Trust Advisors LP purchased a new position in shares of Xerox in the second quarter worth about $12,878,000. 87.68% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Michael David Feldman sold 3,729 shares of the business’s stock in a transaction dated Tuesday, November 6th. The stock was 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 approximately $83,201. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.

Several research analysts have recently commented on XRX shares. Citigroup decreased their price objective on Xerox from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, October 24th. Zacks Investment Research upgraded Xerox from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. Finally, ValuEngine upgraded Xerox from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Xerox presently has a consensus rating of “Buy” and a consensus target price of $35.25.

Shares of NYSE:XRX opened at $25.51 on Friday. Xerox Corp has a 1 year low of $23.52 and a 1 year high of $37.42. The stock has a market cap of $6.36 billion, a P/E ratio of 7.33 and a beta of 1.06. The company has a current ratio of 1.82, a quick ratio of 1.47 and a debt-to-equity ratio of 0.92.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Monday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.00 dividend on an annualized basis and a yield of 3.92%. Xerox’s dividend payout ratio is presently 28.74%.

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About Xerox

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.

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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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