Chevy Chase Trust Holdings Inc. Sells 4,111 Shares of Xerox Corp (NYSE:XRX)

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Chevy Chase Trust Holdings Inc. lowered its holdings in Xerox Corp (NYSE:XRX) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,080 shares of the information technology services provider’s stock after selling 4,111 shares during the quarter. Chevy Chase Trust Holdings Inc. owned 0.07% of Xerox worth $4,639,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Coastal Investment Advisors Inc. bought a new stake in Xerox during the second quarter worth about $32,000. CWM LLC grew its stake in Xerox by 57.9% during the second quarter. CWM LLC now owns 982 shares of the information technology services provider’s stock worth $35,000 after buying an additional 360 shares during the last quarter. North Star Investment Management Corp. bought a new stake in Xerox during the third quarter worth about $37,000. AdvisorNet Financial Inc grew its stake in Xerox by 611.3% during the third quarter. AdvisorNet Financial Inc now owns 3,080 shares of the information technology services provider’s stock worth $92,000 after buying an additional 2,647 shares during the last quarter. Finally, Ossiam bought a new stake in Xerox during the second quarter worth about $143,000. 84.27% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Herve Tessler sold 32,200 shares of the company’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 transaction of $1,005,284.00. Following the transaction, the executive vice president now directly owns 11,804 shares in the company, valued at $368,520.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Several analysts have weighed in on XRX shares. 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 note on Sunday, November 3rd. ValuEngine raised shares of Xerox from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Xerox from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $31.00 to $38.00 in a research note on Tuesday, November 12th. Finally, Loop Capital upped their price objective on shares of Xerox to $47.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $40.75.

Shares of XRX stock opened at $38.50 on Tuesday. Xerox Corp has a 1 year low of $18.58 and a 1 year high of $39.47. The firm’s 50 day moving average is $35.20 and its 200-day moving average is $32.70. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 11.13 and a beta of 1.82. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 0.66.

Xerox (NYSE:XRX) last announced its earnings results on Tuesday, October 29th. The information technology services provider reported $1.08 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the business earned $0.85 earnings per share. Xerox’s quarterly revenue was down 6.5% on a year-over-year basis. On average, equities research analysts forecast that Xerox Corp will post 3.88 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.60%. Xerox’s payout ratio is 28.90%.

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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