Today, Arizona State Retirement System Sold shares of Xerox Corp. (XRX)

Today, Arizona State Retirement System Sold shares of Xerox Corp. (XRX)
Arizona State Retirement System reduced its position in shares of Xerox Corp. (NYSE:XRX) by 14.4% during the third quarter, Holdings Channel reports. The fund owned 276,328 shares of the company’s stock after selling 46,400 shares during the period. Arizona State Retirement System’s holdings in Xerox Corp. were worth $2,799,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in XRX. Chevy Chase Trust Holdings Inc. boosted its position in Xerox Corp. by 1.2% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 816,977 shares of the company’s stock worth $7,753,000 after buying an additional 9,927 shares during the last quarter. Exxonmobil Investment Management Inc. TX raised its stake in Xerox Corp. by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 246,482 shares of the company’s stock valued at $2,339,000 after buying an additional 14,663 shares during the period. British Columbia Investment Management Corp raised its stake in Xerox Corp. by 55.4% in the second quarter. British Columbia Investment Management Corp now owns 690,471 shares of the company’s stock valued at $6,553,000 after buying an additional 246,118 shares during the period. CenturyLink Investment Management Co raised its stake in Xerox Corp. by 8.2% in the second quarter. CenturyLink Investment Management Co now owns 57,863 shares of the company’s stock valued at $549,000 after buying an additional 4,402 shares during the period. Finally, Raymond James Trust N.A. raised its stake in Xerox Corp. by 10.2% in the second quarter. Raymond James Trust N.A. now owns 11,703 shares of the company’s stock valued at $111,000 after buying an additional 1,088 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Shares of Xerox Corp. (NYSE:XRX) traded up 1.19% during trading on Friday, hitting $9.38. 3,714,000 shares of the stock were exchanged. The stock has a market cap of $9.51 billion, a PE ratio of 15.74 and a beta of 1.22. The firm has a 50 day moving average of $9.56 and a 200-day moving average of $9.70. Xerox Corp. has a 52-week low of $8.48 and a 52-week high of $11.39.

Xerox Corp. (NYSE:XRX) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.31 billion. Xerox Corp. had a net margin of 3.74% and a return on equity of 12.62%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 EPS. Equities research analysts anticipate that Xerox Corp. will post $1.12 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.0775 per share. This represents a $0.31 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Tuesday, December 13th. Xerox Corp.’s payout ratio is presently 50.00%.

Several analysts have recently issued reports on XRX shares. Zacks Investment Research lowered shares of Xerox Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, November 8th. SunTrust Banks Inc. started coverage on shares of Xerox Corp. in a research report on Tuesday, September 13th. They issued a “buy” rating and a $13.00 price target on the stock. Brean Capital reissued a “hold” rating on shares of Xerox Corp. in a research report on Monday, August 1st. Vetr lowered shares of Xerox Corp. from a “strong-buy” rating to a “buy” rating and set a $10.47 price target on the stock. in a research report on Tuesday, October 4th. Finally, Morgan Stanley lowered shares of Xerox Corp. from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $11.50 to $9.50 in a research report on Monday, November 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $10.95.

In related news, Chairman Ursula M. Burns sold 74,815 shares of the firm’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $9.51, for a total value of $711,490.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Herve Tessler sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $9.49, for a total transaction of $132,860.00. Following the completion of the transaction, the insider now directly owns 96,319 shares in the company, valued at approximately $914,067.31. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Xerox Corp. Company Profile

Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment comprises two types of service offerings: Business Process Outsourcing (BPO) and Document Outsourcing (DO).

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