IFM Investors Pty Ltd Has $560,000 Holdings in Xerox Corp (NYSE:XRX)

IFM Investors Pty Ltd increased its position in shares of Xerox Corp (NYSE:XRX) by 43.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,715 shares of the information technology services provider’s stock after acquiring an additional 5,644 shares during the quarter. IFM Investors Pty Ltd’s holdings in Xerox were worth $560,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Gradient Investments LLC raised its holdings in shares of Xerox by 751.0% during the second quarter. Gradient Investments LLC now owns 834 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 736 shares during the period. Coastal Investment Advisors Inc. acquired a new stake in shares of Xerox during the second quarter valued at approximately $32,000. CWM LLC raised its holdings in shares of Xerox by 57.9% during the second quarter. CWM LLC now owns 982 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 360 shares during the period. North Star Investment Management Corp. purchased a new position in Xerox during the third quarter valued at approximately $37,000. Finally, NuWave Investment Management LLC grew its position in Xerox by 422.1% during the second quarter. NuWave Investment Management LLC now owns 1,227 shares of the information technology services provider’s stock valued at $43,000 after purchasing an additional 992 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

XRX traded down $0.70 on Tuesday, reaching $37.66. 88,954 shares of the company traded hands, compared to its average volume of 2,743,766. The stock’s 50 day moving average price is $31.38 and its 200-day moving average price is $32.05. Xerox Corp has a 52-week low of $18.58 and a 52-week high of $39.38. The company has a market cap of $8.40 billion, a price-to-earnings ratio of 10.88 and a beta of 1.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 0.91.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.22. Xerox had a net margin of 7.28% and a return on equity of 19.62%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The firm’s revenue was down 6.5% on a year-over-year basis. As a group, equities research analysts forecast that Xerox Corp will post 4.05 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Monday, December 30th. Xerox’s payout ratio is presently 28.90%.

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of Xerox from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $31.00 to $38.00 in a research report on Tuesday. Zacks Investment Research raised shares of Xerox from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a research report on Sunday, November 3rd. ValuEngine downgraded shares of Xerox from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Credit Suisse Group boosted their price objective on shares of Xerox from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $39.00.

In other Xerox news, EVP Herve Tessler sold 32,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $31.22, for a total value of $1,005,284.00. Following the completion of the sale, the executive vice president now directly owns 11,804 shares of the company’s stock, valued at $368,520.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

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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