Robeco Institutional Asset Management B.V. reduced its position in shares of Xerox Corporation (NYSE:XRX) by 72.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 846,573 shares of the information technology services provider’s stock after selling 2,188,120 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.33% of Xerox Corporation worth $24,325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cleararc Capital Inc. increased its position in Xerox Corporation by 1.0% in the first quarter. Cleararc Capital Inc. now owns 20,881 shares of the information technology services provider’s stock worth $153,000 after buying an additional 207 shares during the last quarter. Xact Kapitalforvaltning AB increased its position in Xerox Corporation by 0.3% in the first quarter. Xact Kapitalforvaltning AB now owns 149,314 shares of the information technology services provider’s stock worth $1,096,000 after buying an additional 459 shares during the last quarter. Teza Capital Management LLC increased its position in Xerox Corporation by 2.3% in the first quarter. Teza Capital Management LLC now owns 23,866 shares of the information technology services provider’s stock worth $175,000 after buying an additional 533 shares during the last quarter. Canandaigua National Bank & Trust Co. increased its position in Xerox Corporation by 1.8% in the first quarter. Canandaigua National Bank & Trust Co. now owns 33,141 shares of the information technology services provider’s stock worth $243,000 after buying an additional 600 shares during the last quarter. Finally, Advantus Capital Management Inc increased its position in Xerox Corporation by 1.0% in the first quarter. Advantus Capital Management Inc now owns 85,826 shares of the information technology services provider’s stock worth $630,000 after buying an additional 880 shares during the last quarter. Institutional investors and hedge funds own 83.91% of the company’s stock.

Shares of Xerox Corporation (NYSE XRX) opened at 32.26 on Monday. The firm’s 50-day moving average price is $30.93 and its 200-day moving average price is $29.26. The firm’s market capitalization is $8.20 billion. Xerox Corporation has a 52-week low of $24.86 and a 52-week high of $32.99.

Xerox Corporation (NYSE:XRX) last issued its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. Xerox Corporation had a net margin of 4.55% and a return on equity of 15.28%. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the business earned $0.26 EPS. The company’s revenue was down 8.1% compared to the same quarter last year. On average, equities analysts predict that Xerox Corporation will post $3.36 earnings per share for the current fiscal year.

The firm also recently declared 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 is a positive change from Xerox Corporation’s previous quarterly dividend of $0.06. This represents a $1.00 annualized dividend and a yield of 3.10%. The ex-dividend date is Thursday, September 28th. Xerox Corporation’s payout ratio is presently 12.08%.

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A number of research firms have recently commented on XRX. BidaskClub upgraded Xerox Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. ValuEngine downgraded Xerox Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded Xerox Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Morgan Stanley dropped their price target on Xerox Corporation to $32.00 and set an “overweight” rating on the stock in a research note on Friday, June 16th. Finally, Barclays PLC restated a “sell” rating and set a $27.00 price target on shares of Xerox Corporation in a research note on Friday, June 23rd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus 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.

Institutional Ownership by Quarter for Xerox Corporation (NYSE:XRX)

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