Westside Investment Management Inc. Invests $1.22 Million in Xerox Corp (NYSE:XRX)

Westside Investment Management Inc. acquired a new position in shares of Xerox Corp (NYSE:XRX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 34,322 shares of the information technology services provider’s stock, valued at approximately $1,215,000.

Several other institutional investors also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Xerox by 3.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,684 shares of the information technology services provider’s stock valued at $374,000 after purchasing an additional 375 shares in the last quarter. Empirical Finance LLC lifted its stake in Xerox by 1.1% in the second quarter. Empirical Finance LLC now owns 47,186 shares of the information technology services provider’s stock valued at $1,671,000 after buying an additional 515 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Xerox by 2.8% in the first quarter. CIBC Asset Management Inc now owns 26,447 shares of the information technology services provider’s stock valued at $846,000 after buying an additional 725 shares during the last quarter. Gradient Investments LLC lifted its stake in Xerox by 751.0% in the second quarter. Gradient Investments LLC now owns 834 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 736 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in Xerox by 2.2% in the second quarter. Crossmark Global Holdings Inc. now owns 45,936 shares of the information technology services provider’s stock valued at $1,627,000 after buying an additional 979 shares during the last quarter. 87.22% of the stock is owned by institutional investors and hedge funds.

Shares of Xerox stock traded down $1.10 during trading hours on Monday, hitting $29.48. 50,235 shares of the company were exchanged, compared to its average volume of 2,153,212. Xerox Corp has a 1 year low of $18.58 and a 1 year high of $36.58. The company has a quick ratio of 1.18, a current ratio of 1.33 and a debt-to-equity ratio of 0.79. The firm has a 50-day simple moving average of $34.89. The firm has a market capitalization of $6.87 billion, a PE ratio of 8.51 and a beta of 1.74.

Xerox (NYSE:XRX) last released its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.06. Xerox had a return on equity of 18.78% and a net margin of 5.76%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the prior year, the business earned $0.80 earnings per share. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, research analysts predict that Xerox Corp will post 3.89 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.39%. The ex-dividend date was Thursday, June 27th. Xerox’s dividend payout ratio (DPR) is presently 28.90%.

A number of equities research analysts have weighed in on XRX shares. ValuEngine cut Xerox from a “hold” rating to a “sell” rating in a research note on Thursday. Credit Suisse Group started coverage on Xerox in a research note on Thursday, April 11th. They issued an “outperform” rating and a $42.00 price objective for the company. Finally, Zacks Investment Research cut Xerox from a “buy” rating to a “hold” rating in a research note on Saturday, April 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $36.00.

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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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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