TD Asset Management Inc. Sells 85,121 Shares of Xerox Corporation (XRX)
TD Asset Management Inc. trimmed its holdings in shares of Xerox Corporation (NYSE:XRX) by 28.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 209,643 shares of the information technology services provider’s stock after selling 85,121 shares during the period. TD Asset Management Inc. owned about 0.08% of Xerox worth $6,979,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Norinchukin Bank The boosted its stake in shares of Xerox by 16.2% during the 3rd quarter. Norinchukin Bank The now owns 17,220 shares of the information technology services provider’s stock worth $573,000 after buying an additional 2,406 shares during the last quarter. ING Groep NV boosted its stake in shares of Xerox by 38.0% during the 3rd quarter. ING Groep NV now owns 23,683 shares of the information technology services provider’s stock worth $788,000 after buying an additional 6,526 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Xerox by 34.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 285,557 shares of the information technology services provider’s stock worth $9,506,000 after buying an additional 72,474 shares during the last quarter. Macquarie Group Ltd. acquired a new position in shares of Xerox during the 3rd quarter worth about $627,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Xerox by 37.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,392,867 shares of the information technology services provider’s stock worth $146,243,000 after buying an additional 1,197,634 shares during the last quarter. Institutional investors own 84.03% of the company’s stock.
A number of equities analysts have recently commented on XRX shares. Zacks Investment Research downgraded shares of Xerox from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. UBS dropped their target price on shares of Xerox from $36.00 to $34.50 and set a “neutral” rating on the stock in a report on Friday, October 27th. ValuEngine raised shares of Xerox from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Barclays reaffirmed an “equal weight” rating and issued a $35.00 target price (up from $33.00) on shares of Xerox in a report on Tuesday, September 12th. Finally, BidaskClub raised shares of Xerox from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $35.50.
Shares of Xerox Corporation (XRX) traded down $0.35 during mid-day trading on Tuesday, hitting $29.37. 3,084,700 shares of the stock were exchanged, compared to its average volume of 2,420,594. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.33 and a current ratio of 1.63. The company has a market cap of $7,566.30, a PE ratio of 8.85 and a beta of 1.12. Xerox Corporation has a 12 month low of $25.84 and a 12 month high of $39.08.
Xerox (NYSE:XRX) last issued its earnings results on Thursday, October 26th. The information technology services provider reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.06. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Xerox had a net margin of 5.29% and a return on equity of 17.23%. Xerox’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 EPS. research analysts anticipate that Xerox Corporation will post 3.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be issued a $0.25 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.00 annualized dividend and a yield of 3.40%. Xerox’s dividend payout ratio is currently 48.31%.
In other Xerox news, EVP Herve Tessler sold 6,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $28.59, for a total value of $171,540.00. Following the transaction, the executive vice president now directly owns 35,878 shares of the company’s stock, valued at approximately $1,025,752.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.
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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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