Xerox (XRX) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Xerox (NYSE:XRX) from a hold rating to a buy rating in a research note published on Saturday.

A number of other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Xerox from a buy rating to a hold rating in a research note on Saturday, April 7th. JPMorgan Chase decreased their price target on shares of Xerox from $41.00 to $40.00 and set an overweight rating on the stock in a research note on Tuesday, February 13th. UBS upgraded shares of Xerox from a neutral rating to a buy rating in a research note on Monday, February 5th. Loop Capital reiterated a buy rating on shares of Xerox in a research note on Thursday, February 1st. Finally, Standpoint Research reiterated a hold rating on shares of Xerox in a research note on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $35.72.

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Shares of XRX opened at $31.20 on Friday. Xerox has a 52 week low of $26.64 and a 52 week high of $37.42. The stock has a market capitalization of $8,032.40, a P/E ratio of 8.97 and a beta of 1.19. The company has a current ratio of 1.91, a quick ratio of 1.57 and a debt-to-equity ratio of 0.99.



Xerox (NYSE:XRX) last announced its quarterly earnings results on Wednesday, January 31st. The information technology services provider reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.08. Xerox had a net margin of 1.67% and a return on equity of 17.13%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the prior year, the business earned $1.00 EPS. Xerox’s quarterly revenue was up .5% on a year-over-year basis. equities analysts expect that Xerox will post 3.43 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, March 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Wednesday, March 28th. Xerox’s dividend payout ratio is currently 28.74%.

In other Xerox news, insider Carl C. Icahn sold 1,161,404 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $34.49, for a total value of $40,056,823.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Carl C. Icahn sold 140,011 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $32.50, for a total transaction of $4,550,357.50. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Xerox by 0.7% in the 4th quarter. BlackRock Inc. now owns 15,067,064 shares of the information technology services provider’s stock valued at $439,206,000 after purchasing an additional 98,850 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Xerox by 31.4% in the 4th quarter. TIAA CREF Investment Management LLC now owns 3,979,223 shares of the information technology services provider’s stock valued at $115,994,000 after purchasing an additional 951,355 shares during the period. Guggenheim Capital LLC boosted its holdings in Xerox by 13.8% in the 4th quarter. Guggenheim Capital LLC now owns 2,654,855 shares of the information technology services provider’s stock valued at $77,390,000 after purchasing an additional 320,976 shares during the period. Alps Advisors Inc. boosted its holdings in Xerox by 12.8% in the 4th quarter. Alps Advisors Inc. now owns 1,621,941 shares of the information technology services provider’s stock valued at $47,280,000 after purchasing an additional 184,505 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Xerox by 0.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,306,983 shares of the information technology services provider’s stock valued at $38,098,000 after purchasing an additional 8,166 shares during the period. 85.61% of the stock is owned by hedge funds and other institutional investors.

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About Xerox

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.

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Analyst Recommendations for Xerox (NYSE:XRX)

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