SG Americas Securities LLC trimmed its holdings in Xerox Corp (NYSE:XRX) by 70.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,809 shares of the information technology services provider’s stock after selling 53,561 shares during the quarter. SG Americas Securities LLC’s holdings in Xerox were worth $547,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in XRX. Rampart Investment Management Company LLC lifted its stake in Xerox by 105.3% in the 1st quarter. Rampart Investment Management Company LLC now owns 6,095 shares of the information technology services provider’s stock valued at $175,000 after purchasing an additional 3,126 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Xerox by 221.7% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,676 shares of the information technology services provider’s stock worth $192,000 after acquiring an additional 4,601 shares during the last quarter. First Allied Advisory Services Inc. acquired a new stake in shares of Xerox in the first quarter valued at approximately $200,000. Alpha Windward LLC raised its position in shares of Xerox by 50.7% in the second quarter. Alpha Windward LLC now owns 8,405 shares of the information technology services provider’s stock valued at $202,000 after buying an additional 2,826 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Xerox in the second quarter valued at approximately $214,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.
In other Xerox news, Chairman Keith Cozza purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The shares were bought at an average cost of $25.42 per share, for a total transaction of $1,271,000.00. Following the purchase, the chairman now owns 50,000 shares of the company’s stock, valued at approximately $1,271,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Herve Tessler sold 16,567 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $26.03, for a total transaction of $431,239.01. Following the completion of the sale, the insider now owns 34,647 shares in the company, valued at $901,861.41. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
Xerox (NYSE:XRX) last posted its earnings results on Thursday, July 26th. The information technology services provider reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). Xerox had a return on equity of 16.63% and a net margin of 1.22%. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the firm earned $0.87 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. Equities analysts anticipate that Xerox Corp will post 3.3 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date is Thursday, September 27th. Xerox’s payout ratio is 28.74%.
A number of research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Xerox in a research note on Friday, July 20th. They issued a “buy” rating and a $39.00 price objective on the stock. Standpoint Research raised shares of Xerox from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. JPMorgan Chase & Co. decreased their target price on shares of Xerox from $38.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, July 27th. Zacks Investment Research cut shares of Xerox from a “buy” rating to a “hold” rating in a research note on Sunday, July 8th. Finally, ValuEngine cut shares of Xerox from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Xerox presently has an average rating of “Hold” and a consensus target price of $35.90.
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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