Legal & General Group Plc lifted its stake in Xerox Corp (NYSE:XRX) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,191,765 shares of the information technology services provider’s stock after acquiring an additional 23,128 shares during the quarter. Legal & General Group Plc owned 0.50% of Xerox worth $23,549,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. CSat Investment Advisory L.P. increased its position in Xerox by 56.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,013 shares of the information technology services provider’s stock valued at $40,000 after acquiring an additional 730 shares during the last quarter. Voloridge Investment Management LLC bought a new position in shares of Xerox in the fourth quarter worth about $272,000. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Xerox by 1.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 892,885 shares of the information technology services provider’s stock worth $17,644,000 after purchasing an additional 9,300 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of Xerox in the fourth quarter worth about $584,000. Finally, Gotham Asset Management LLC grew its holdings in shares of Xerox by 112.2% in the fourth quarter. Gotham Asset Management LLC now owns 790,121 shares of the information technology services provider’s stock worth $15,613,000 after purchasing an additional 417,800 shares during the last quarter. Hedge funds and other institutional investors own 85.15% of the company’s stock.
A number of research analysts have recently commented on the stock. Zacks Investment Research cut shares of Xerox from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Credit Suisse Group started coverage on shares of Xerox in a report on Thursday, April 11th. They set an “outperform” rating and a $42.00 target price on the stock. TheStreet upgraded shares of Xerox from a “c+” rating to a “b-” rating in a report on Friday, February 22nd. Standpoint Research cut shares of Xerox from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Finally, ValuEngine upgraded shares of Xerox from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $36.60.
Xerox (NYSE:XRX) last announced its quarterly earnings data on Tuesday, January 29th. The information technology services provider reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.02). The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Xerox had a net margin of 3.67% and a return on equity of 16.81%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.04 earnings per share. As a group, research analysts anticipate that Xerox Corp will post 3.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.00 annualized dividend and a yield of 2.97%. Xerox’s dividend payout ratio (DPR) is presently 28.90%.
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Xerox Company Profile
Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.
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