Xerox Corporation (XRX) Shares Sold by TD Asset Management Inc.
TD Asset Management Inc. decreased its stake in Xerox Corporation (NYSE:XRX) by 75.4% during the second quarter, Holdings Channel reports. The firm owned 294,764 shares of the information technology services provider’s stock after selling 905,035 shares during the period. TD Asset Management Inc.’s holdings in Xerox Corporation were worth $8,469,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in XRX. JFS Wealth Advisors LLC bought a new position in shares of Xerox Corporation during the second quarter valued at $173,000. Paragon Capital Management Ltd raised its position in shares of Xerox Corporation by 201.7% in the second quarter. Paragon Capital Management Ltd now owns 11,588 shares of the information technology services provider’s stock valued at $333,000 after buying an additional 7,747 shares during the period. Breton Hill Capital Ltd. bought a new position in shares of Xerox Corporation during the second quarter valued at $1,914,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in shares of Xerox Corporation during the second quarter valued at $933,000. Finally, James Investment Research Inc. bought a new position in shares of Xerox Corporation during the second quarter valued at $684,000.
Shares of Xerox Corporation (XRX) opened at 32.28 on Wednesday. The firm’s market cap is $8.20 billion. The stock’s 50 day moving average is $30.30 and its 200 day moving average is $29.07. Xerox Corporation has a 12 month low of $24.86 and a 12 month high of $32.99.
Xerox Corporation (NYSE:XRX) last issued its earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.03. Xerox Corporation had a return on equity of 15.28% and a net margin of 4.55%. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the previous year, the business earned $0.26 EPS. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, analysts anticipate that Xerox Corporation will post $3.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.10%. This is a boost from Xerox Corporation’s previous quarterly dividend of $0.06. Xerox Corporation’s payout ratio is presently 12.08%.
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Several research analysts have weighed in on the stock. Loop Capital reaffirmed a “buy” rating and set a $38.00 target price (up previously from $36.00) on shares of Xerox Corporation in a research note on Tuesday, August 8th. Credit Suisse Group increased their target price on shares of Xerox Corporation from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Citigroup Inc. set a $39.00 target price on shares of Xerox Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. ValuEngine lowered shares of Xerox Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Barclays PLC raised shares of Xerox Corporation from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $27.00 to $33.00 in a research note on Monday, July 24th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Xerox Corporation has a consensus 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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