XRX has been the subject of several other reports. JPMorgan Chase & Co. raised Xerox from an underweight rating to a neutral rating and increased their price objective for the stock from $31.00 to $38.00 in a research note on Tuesday. Zacks Investment Research raised Xerox from a hold rating to a strong-buy rating and set a $36.00 price objective for the company in a research note on Sunday, November 3rd. Finally, Credit Suisse Group increased their price objective on Xerox from $42.00 to $43.00 and gave the stock an outperform rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $39.00.
Shares of NYSE XRX traded up $0.29 during mid-day trading on Thursday, hitting $38.94. 2,240,427 shares of the company traded hands, compared to its average volume of 2,578,066. Xerox has a 1 year low of $18.58 and a 1 year high of $39.38. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 11.25 and a beta of 1.79. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average of $32.05 and a two-hundred day moving average of $32.15.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.57%. The ex-dividend date is Monday, December 30th. Xerox’s payout ratio is currently 28.90%.
In other Xerox news, EVP Herve Tessler sold 32,200 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $31.22, for a total value of $1,005,284.00. Following the transaction, the executive vice president now directly owns 11,804 shares of the company’s stock, valued at approximately $368,520.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. CNA Financial Corp increased its position in Xerox by 41.0% in the 3rd quarter. CNA Financial Corp now owns 71,597 shares of the information technology services provider’s stock worth $2,141,000 after purchasing an additional 20,833 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Xerox in the 3rd quarter worth about $1,463,000. Symmetry Partners LLC increased its position in Xerox by 13.5% in the 3rd quarter. Symmetry Partners LLC now owns 14,115 shares of the information technology services provider’s stock worth $422,000 after purchasing an additional 1,677 shares during the last quarter. Cullen Frost Bankers Inc. increased its position in Xerox by 118.2% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 22,062 shares of the information technology services provider’s stock worth $661,000 after purchasing an additional 11,949 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its position in Xerox by 43.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 18,715 shares of the information technology services provider’s stock worth $560,000 after purchasing an additional 5,644 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.
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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