Xerox Corp (NYSE:XRX) Shares Sold by United Capital Financial Advisers LLC

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United Capital Financial Advisers LLC trimmed its position in Xerox Corp (NYSE:XRX) by 23.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 29,847 shares of the information technology services provider’s stock after selling 8,939 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Xerox were worth $1,057,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. APG Asset Management N.V. lifted its stake in shares of Xerox by 256.7% during the second quarter. APG Asset Management N.V. now owns 3,973,815 shares of the information technology services provider’s stock worth $123,562,000 after buying an additional 2,859,700 shares during the period. Prudential Financial Inc. lifted its stake in shares of Xerox by 187.0% during the second quarter. Prudential Financial Inc. now owns 2,465,149 shares of the information technology services provider’s stock worth $87,291,000 after buying an additional 1,606,245 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Xerox by 68.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 2,543,039 shares of the information technology services provider’s stock worth $90,051,000 after buying an additional 1,034,734 shares during the period. FMR LLC lifted its stake in shares of Xerox by 358.3% during the first quarter. FMR LLC now owns 1,250,108 shares of the information technology services provider’s stock worth $39,979,000 after buying an additional 977,310 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Xerox by 19.1% during the fourth quarter. Geode Capital Management LLC now owns 4,038,170 shares of the information technology services provider’s stock worth $79,772,000 after buying an additional 647,882 shares during the period. Institutional investors own 84.77% of the company’s stock.

Shares of Xerox stock traded down $0.56 during trading on Friday, hitting $29.64. 1,584,231 shares of the company’s stock were exchanged, compared to its average volume of 1,761,460. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.09 and a current ratio of 1.33. The business has a 50-day simple moving average of $29.34 and a 200-day simple moving average of $32.35. Xerox Corp has a 52-week low of $18.58 and a 52-week high of $36.58. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 8.57 and a beta of 1.76.

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

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.00 annualized dividend and a dividend yield of 3.37%. Xerox’s dividend payout ratio (DPR) is presently 28.90%.

In related news, EVP Herve Tessler sold 32,200 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $31.22, for a total transaction of $1,005,284.00. Following the completion of the transaction, the executive vice president now owns 11,804 shares of the company’s stock, valued at $368,520.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Several research firms have recently commented on XRX. ValuEngine downgraded shares of Xerox from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded shares of Xerox from a “hold” rating to a “sell” rating and set a $32.00 price objective for the company. in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $36.00.

About Xerox

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.

Further Reading: What are the Benefits of Index Funds?

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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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