Xerox Corporation (NYSE:XRX) Position Lowered by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can cut its stake in shares of Xerox Corporation (NYSE:XRX) by 64.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 961,721 shares of the information technology services provider’s stock after selling 1,756,828 shares during the period. Great West Life Assurance Co. Can’s holdings in Xerox Corporation were worth $27,572,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of XRX. BlackRock Inc. increased its position in shares of Xerox Corporation by 1,831.5% in the first quarter. BlackRock Inc. now owns 69,513,636 shares of the information technology services provider’s stock valued at $510,230,000 after buying an additional 65,914,755 shares during the period. Alliancebernstein L.P. increased its position in shares of Xerox Corporation by 11.1% in the first quarter. Alliancebernstein L.P. now owns 29,712,397 shares of the information technology services provider’s stock valued at $218,089,000 after buying an additional 2,968,922 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Xerox Corporation by 25.0% in the first quarter. Dimensional Fund Advisors LP now owns 16,726,444 shares of the information technology services provider’s stock valued at $122,775,000 after buying an additional 3,341,049 shares during the period. Geode Capital Management LLC increased its position in shares of Xerox Corporation by 17.5% in the first quarter. Geode Capital Management LLC now owns 12,632,535 shares of the information technology services provider’s stock valued at $92,637,000 after buying an additional 1,881,180 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Xerox Corporation by 2.6% in the first quarter. Renaissance Technologies LLC now owns 11,704,289 shares of the information technology services provider’s stock valued at $85,909,000 after buying an additional 291,800 shares during the period.

Shares of Xerox Corporation (NYSE:XRX) opened at 32.22 on Friday. The firm’s 50-day moving average price is $29.19 and its 200 day moving average price is $28.76. The company’s market capitalization is $8.19 billion. Xerox Corporation has a one year low of $24.86 and a one year high of $32.54.

Xerox Corporation (NYSE:XRX) last announced its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.03. Xerox Corporation had a return on equity of 15.28% and a net margin of 4.55%. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the firm posted $0.26 earnings per share. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. Analysts anticipate that Xerox Corporation will post $3.36 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.10%. This is a positive change from Xerox Corporation’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, September 28th. Xerox Corporation’s dividend payout ratio (DPR) is presently 12.08%.

COPYRIGHT VIOLATION NOTICE: “[[title]]” was originally posted by [[site]] and is the property of of [[site]]. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this news story can be viewed at [[permalink]].

Several research analysts recently issued reports on the stock. Credit Suisse Group upped their price target on shares of Xerox Corporation from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday. Loop Capital reiterated a “buy” rating and set a $38.00 price target (up previously from $36.00) on shares of Xerox Corporation in a research report on Wednesday. ValuEngine downgraded shares of Xerox Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday. Citigroup Inc. set a $39.00 price target on shares of Xerox Corporation and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays PLC upgraded shares of Xerox Corporation from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $27.00 to $33.00 in a research report on Monday, July 24th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Xerox Corporation presently has an average rating of “Buy” and a consensus target price of $37.23.

Xerox Corporation Company Profile

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.

Want to see what other hedge funds are holding XRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Xerox Corporation (NYSE:XRX).