California State Teachers Retirement System Sells 54,256 Shares of Xerox Corp (NYSE:XRX)

California State Teachers Retirement System lessened its holdings in shares of Xerox Corp (NYSE:XRX) by 13.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 354,667 shares of the information technology services provider’s stock after selling 54,256 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Xerox worth $11,342,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Water Island Capital LLC increased its position in Xerox by 27.8% in the fourth quarter. Water Island Capital LLC now owns 347,913 shares of the information technology services provider’s stock worth $6,875,000 after purchasing an additional 75,751 shares during the period. First Hawaiian Bank increased its position in Xerox by 534.9% in the first quarter. First Hawaiian Bank now owns 3,822 shares of the information technology services provider’s stock worth $122,000 after purchasing an additional 3,220 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Xerox by 12.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 31,107 shares of the information technology services provider’s stock worth $612,000 after purchasing an additional 3,384 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Xerox by 22.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 807,497 shares of the information technology services provider’s stock worth $15,986,000 after purchasing an additional 148,321 shares during the period. Finally, World Asset Management Inc increased its position in Xerox by 18.3% in the first quarter. World Asset Management Inc now owns 17,059 shares of the information technology services provider’s stock worth $546,000 after purchasing an additional 2,641 shares during the period. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Shares of XRX traded up $9,601,000,364.67 on Friday, hitting $9,601,000,400.00. The company’s stock had a trading volume of 2,593,120 shares, compared to its average volume of 2,902,256. The company has a quick ratio of 1.18, a current ratio of 1.47 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average of $33.24. Xerox Corp has a fifty-two week low of $18.58 and a fifty-two week high of $35.62. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 2,774,855,606.94 and a beta of 1.66.

Xerox (NYSE:XRX) last released its earnings results on Thursday, April 25th. The information technology services provider reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Xerox had a return on equity of 18.02% and a net margin of 4.91%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. Sell-side analysts expect that Xerox Corp will post 3.89 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.00%. The ex-dividend date of this dividend is Thursday, June 27th. Xerox’s payout ratio is presently 28.90%.

A number of brokerages recently commented on XRX. Credit Suisse Group began coverage on Xerox in a research report on Thursday, April 11th. They issued an “outperform” rating and a $42.00 price objective for the company. Zacks Investment Research lowered Xerox from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $35.75.

Xerox Company Profile

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.

Featured Story: Day Trading

Institutional Ownership by Quarter for Xerox (NYSE:XRX)

Receive News & Ratings for Xerox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xerox and related companies with MarketBeat.com's FREE daily email newsletter.