Equities research analysts at UBS AG began coverage on shares of Xerox Corporation (NYSE:XRX) in a report issued on Tuesday. The brokerage set a “neutral” rating and a $36.00 price target on the information technology services provider’s stock. UBS AG’s price target would indicate a potential upside of 9.56% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Barclays PLC restated an “equal weight” rating and issued a $35.00 target price (up from $33.00) on shares of Xerox Corporation in a research report on Tuesday, September 12th. ValuEngine upgraded shares of Xerox Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research cut shares of Xerox Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. BidaskClub upgraded shares of Xerox Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Finally, Loop Capital restated a “buy” rating and issued a $38.00 target price (up from $36.00) on shares of Xerox Corporation in a research report on Tuesday, August 8th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $35.67.

Shares of Xerox Corporation (NYSE XRX) opened at 32.86 on Tuesday. The firm’s 50-day moving average is $32.52 and its 200 day moving average is $29.88. Xerox Corporation has a 52 week low of $22.90 and a 52 week high of $34.13. The company’s market capitalization is $8.35 billion.

Xerox Corporation (NYSE:XRX) last issued its earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 EPS. On average, analysts anticipate that Xerox Corporation will post $3.36 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Xerox Corporation by 1,831.5% during the 1st quarter. BlackRock Inc. now owns 69,513,636 shares of the information technology services provider’s stock worth $510,230,000 after acquiring an additional 65,914,755 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Xerox Corporation by 25.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 16,726,444 shares of the information technology services provider’s stock worth $122,775,000 after acquiring an additional 3,341,049 shares during the last quarter. Geode Capital Management LLC grew its holdings in Xerox Corporation by 17.5% during the 1st quarter. Geode Capital Management LLC now owns 12,632,535 shares of the information technology services provider’s stock worth $92,637,000 after acquiring an additional 1,881,180 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Xerox Corporation by 2.6% during the 1st quarter. Renaissance Technologies LLC now owns 11,704,289 shares of the information technology services provider’s stock worth $85,909,000 after acquiring an additional 291,800 shares during the last quarter. Finally, Teachers Advisors LLC grew its holdings in Xerox Corporation by 25.8% during the 1st quarter. Teachers Advisors LLC now owns 8,289,357 shares of the information technology services provider’s stock worth $60,844,000 after acquiring an additional 1,698,883 shares during the last quarter. 84.13% of the stock is currently owned by hedge funds and other institutional investors.

About Xerox Corporation

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 Corporation (NYSE:XRX)

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