ValuEngine upgraded shares of Xerox Corp (NYSE:XRX) from a buy rating to a strong-buy rating in a report released on Saturday.
Several other analysts have also issued reports on XRX. Credit Suisse Group restated a buy rating and issued a $32.00 price objective on shares of Xerox Corp in a research note on Friday, March 31st. Goldman Sachs Group, Inc. (The) restated a buy rating and issued a $34.00 price objective on shares of Xerox Corp in a research note on Wednesday, April 26th. Morgan Stanley dropped their price objective on Xerox Corp from $34.00 to $32.00 and set an overweight rating on the stock in a research note on Wednesday, April 26th. Finally, Zacks Investment Research lowered Xerox Corp from a hold rating to a sell rating in a research note on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $36.63.
Shares of Xerox Corp (NYSE XRX) traded up 2.55% on Friday, hitting $28.50. The company had a trading volume of 7,246,697 shares. Xerox Corp has a 12-month low of $5.72 and a 12-month high of $28.84. The firm has a 50 day moving average of $8.24 and a 200-day moving average of $7.26. The firm’s market capitalization is $28.97 billion.
Xerox Corp (NYSE:XRX) last issued its quarterly earnings results on Tuesday, April 25th. The information technology services provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by $0.04. Xerox Corp had a net margin of 0.33% and a return on equity of 1.48%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the company posted $0.88 earnings per share. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities analysts predict that Xerox Corp will post $3.30 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be paid a dividend of $0.0625 per share. The ex-dividend date is Wednesday, June 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.88%. Xerox Corp’s dividend payout ratio (DPR) is currently 49.02%.
In other news, insider Yehia Abouelmaaty Omar sold 29,375 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $7.09, for a total transaction of $208,268.75. Following the transaction, the insider now owns 15,903 shares in the company, valued at $112,752.27. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.37% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. Highbridge Capital Management LLC raised its position in shares of Xerox Corp by 843.8% in the fourth quarter. Highbridge Capital Management LLC now owns 3,780,965 shares of the information technology services provider’s stock worth $33,007,000 after buying an additional 3,380,335 shares during the period. A.R.T. Advisors LLC raised its position in shares of Xerox Corp by 1,518.0% in the fourth quarter. A.R.T. Advisors LLC now owns 179,600 shares of the information technology services provider’s stock worth $1,567,000 after buying an additional 168,500 shares during the period. Vident Investment Advisory LLC raised its position in shares of Xerox Corp by 47.8% in the fourth quarter. Vident Investment Advisory LLC now owns 15,011 shares of the information technology services provider’s stock worth $131,000 after buying an additional 4,852 shares during the period. Chevy Chase Trust Holdings Inc. raised its position in shares of Xerox Corp by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 745,886 shares of the information technology services provider’s stock worth $5,475,000 after buying an additional 23,591 shares during the period. Finally, Quantbot Technologies LP raised its position in shares of Xerox Corp by 2,285.2% in the first quarter. Quantbot Technologies LP now owns 88,779 shares of the information technology services provider’s stock worth $651,000 after buying an additional 85,057 shares during the period. Institutional investors own 82.53% of the company’s stock.
About Xerox Corp
Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment includes service offerings, such as BPO and Document Outsourcing (DO). It provides business services in markets across various industries and to government agencies.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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