Gabelli Funds LLC acquired a new stake in Xerox Corp (NYSE:XRX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 69,525 shares of the information technology services provider’s stock, valued at approximately $2,001,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Advisor Partners LLC purchased a new stake in shares of Xerox in the 4th quarter worth approximately $204,000. D.A. Davidson & CO. purchased a new stake in shares of Xerox in the 4th quarter worth approximately $202,000. Sciencast Management LP purchased a new stake in shares of Xerox in the 4th quarter worth approximately $233,000. Conning Inc. purchased a new stake in shares of Xerox in the 4th quarter worth approximately $215,000. Finally, Synovus Financial Corp bought a new position in shares of Xerox during the 1st quarter worth approximately $275,000. 83.14% of the stock is owned by institutional investors.
Several research firms recently commented on XRX. ValuEngine lowered shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. JPMorgan Chase & Co. lowered shares of Xerox from an “overweight” rating to a “neutral” rating and set a $40.00 price objective for the company. in a research note on Monday, May 14th. Cross Research lowered shares of Xerox from a “buy” rating to a “hold” rating in a research note on Monday, May 14th. Loop Capital reduced their price objective on shares of Xerox to $40.00 and set a “buy” rating for the company in a research note on Wednesday, May 16th. Finally, TheStreet lowered shares of Xerox from a “b-” rating to a “c+” rating in a research note on Tuesday, May 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Xerox presently has an average rating of “Buy” and an average price target of $35.69.
Xerox (NYSE:XRX) last released its quarterly earnings data on Thursday, May 3rd. The information technology services provider reported $0.68 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.05). The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Xerox had a net margin of 1.74% and a return on equity of 17.08%. The firm’s revenue was down .8% on a year-over-year basis. During the same period last year, the company earned $0.15 earnings per share. sell-side analysts predict that Xerox Corp will post 3.49 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, June 29th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Thursday, June 28th. Xerox’s dividend payout ratio (DPR) is currently 28.74%.
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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