Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Xerox Corporation (NYSE:XRX) during the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 32,088 shares of the information technology services provider’s stock, valued at approximately $933,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of XRX. James Investment Research Inc. bought a new position in shares of Xerox Corporation during the second quarter worth $684,000. Mn Services Vermogensbeheer B.V. raised its position in shares of Xerox Corporation by 52.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 35,055 shares of the information technology services provider’s stock worth $1,007,000 after buying an additional 12,074 shares in the last quarter. NN Investment Partners Holdings N.V. increased its stake in Xerox Corporation by 8.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 33,853 shares of the information technology services provider’s stock worth $973,000 after buying an additional 2,694 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in Xerox Corporation during the first quarter worth approximately $2,165,000. Finally, Bank of Nova Scotia increased its stake in Xerox Corporation by 868.0% in the first quarter. Bank of Nova Scotia now owns 196,636 shares of the information technology services provider’s stock worth $1,443,000 after buying an additional 176,322 shares during the last quarter.
Shares of Xerox Corporation (NYSE:XRX) opened at 32.41 on Thursday. The company has a 50-day moving average of $30.40 and a 200 day moving average of $29.09. Xerox Corporation has a 12-month low of $24.86 and a 12-month high of $32.99. The firm’s market cap is $8.24 billion.
Xerox Corporation (NYSE:XRX) last issued its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the prior year, the business posted $0.26 earnings per share. Xerox Corporation’s revenue for the quarter was down 8.1% compared to the same quarter last year. Equities research analysts anticipate that Xerox Corporation will post $3.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a dividend of $0.25 per share. This is a positive change from Xerox Corporation’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, September 28th. This represents a $1.00 annualized dividend and a yield of 3.09%. Xerox Corporation’s dividend payout ratio is 12.08%.
A number of analysts have commented on the stock. Loop Capital reiterated a “buy” rating and issued a $38.00 price objective (up previously from $36.00) on shares of Xerox Corporation in a report on Tuesday, August 8th. Credit Suisse Group increased their price objective on shares of Xerox Corporation from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Citigroup Inc. set a $39.00 price objective on shares of Xerox Corporation and gave the company a “buy” rating in a report on Wednesday, August 2nd. ValuEngine downgraded shares of Xerox Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Barclays PLC upgraded shares of Xerox Corporation from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $27.00 to $33.00 in a report on Monday, July 24th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $37.23.
About Xerox Corporation
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.
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