Retirement Systems of Alabama decreased its position in shares of Xerox Corp (NYSE:XRX) by 76.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,308 shares of the information technology services provider’s stock after selling 340,570 shares during the period. Retirement Systems of Alabama’s holdings in Xerox were worth $2,760,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors purchased a new stake in Xerox during the 3rd quarter worth $135,000. Truvestments Capital LLC purchased a new stake in Xerox during the 3rd quarter worth $160,000. Alpha Windward LLC increased its stake in Xerox by 50.7% during the 2nd quarter. Alpha Windward LLC now owns 8,405 shares of the information technology services provider’s stock worth $202,000 after buying an additional 2,826 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Xerox during the 2nd quarter worth $214,000. Finally, Cumberland Partners Ltd purchased a new stake in Xerox during the 2nd quarter worth $241,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.
XRX opened at $29.14 on Friday. The stock has a market capitalization of $6.91 billion, a PE ratio of 8.37 and a beta of 1.13. Xerox Corp has a 1-year low of $23.52 and a 1-year high of $37.42. The company has a quick ratio of 1.47, a current ratio of 1.82 and a debt-to-equity ratio of 0.92.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Monday, December 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, December 28th. Xerox’s payout ratio is currently 28.74%.
In other news, insider Michael David Feldman sold 3,729 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $29.00, for a total value of $108,141.00. Following the completion of the sale, the insider now owns 2,869 shares of the company’s stock, valued at approximately $83,201. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Xerox from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research note on Friday, October 26th. JPMorgan Chase & Co. dropped their target price on shares of Xerox from $38.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, July 27th. ValuEngine raised shares of Xerox from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 24th. Finally, Citigroup started coverage on shares of Xerox in a research report on Friday, July 20th. They issued a “buy” rating and a $39.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $35.10.
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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