Federated Investors Inc. PA Buys 467,371 Shares of Xerox Corporation (XRX)
Federated Investors Inc. PA increased its position in shares of Xerox Corporation (NYSE:XRX) by 378.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 590,999 shares of the information technology services provider’s stock after buying an additional 467,371 shares during the period. Federated Investors Inc. PA owned approximately 0.23% of Xerox Corporation worth $16,980,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in XRX. Quantbot Technologies LP increased its stake in shares of Xerox Corporation by 2,285.2% in the first quarter. Quantbot Technologies LP now owns 88,779 shares of the information technology services provider’s stock worth $651,000 after buying an additional 85,057 shares during the period. Cadence Capital Management LLC increased its stake in shares of Xerox Corporation by 33.9% in the first quarter. Cadence Capital Management LLC now owns 719,078 shares of the information technology services provider’s stock worth $5,278,000 after buying an additional 182,063 shares during the period. Arizona State Retirement System increased its stake in shares of Xerox Corporation by 0.4% in the first quarter. Arizona State Retirement System now owns 283,128 shares of the information technology services provider’s stock worth $2,078,000 after buying an additional 1,100 shares during the period. Tredje AP fonden increased its stake in shares of Xerox Corporation by 29.3% in the first quarter. Tredje AP fonden now owns 306,395 shares of the information technology services provider’s stock worth $2,268,000 after buying an additional 69,483 shares during the period. Finally, Old Mutual Global Investors UK Ltd. increased its stake in shares of Xerox Corporation by 200.2% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 168,399 shares of the information technology services provider’s stock worth $1,236,000 after buying an additional 112,299 shares during the period.
Shares of Xerox Corporation (XRX) opened at 32.26 on Friday. Xerox Corporation has a 12-month low of $22.90 and a 12-month high of $32.99. The stock’s market cap is $8.20 billion. The stock has a 50 day moving average price of $30.93 and a 200-day moving average price of $29.26.
Xerox Corporation (NYSE:XRX) last posted its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. During the same period last year, the company posted $0.26 earnings per share. The business’s quarterly revenue was down 8.1% on a year-over-year basis. Equities analysts anticipate that Xerox Corporation will post $3.36 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a $0.25 dividend. 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 is Thursday, September 28th. Xerox Corporation’s dividend payout ratio (DPR) is 12.08%.
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A number of equities research analysts have recently commented on XRX shares. ValuEngine upgraded Xerox Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Morgan Stanley reiterated an “overweight” rating and set a $32.00 price objective on shares of Xerox Corporation in a research report on Saturday, June 3rd. Loop Capital reiterated a “buy” rating and set a $38.00 price objective (up previously from $36.00) on shares of Xerox Corporation in a research report on Wednesday, August 2nd. Credit Suisse Group increased their price objective on Xerox Corporation from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded Xerox Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Xerox Corporation has a consensus rating of “Buy” and an average target price of $37.23.
About Xerox Corporation
Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.
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