First Eagle Investment Management LLC Lowers Stock Holdings in Xerox Corp (NYSE:XRX)

First Eagle Investment Management LLC lowered its position in shares of Xerox Corp (NYSE:XRX) by 7.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,482,600 shares of the information technology services provider’s stock after selling 115,049 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.66% of Xerox worth $47,414,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Water Island Capital LLC grew 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 acquiring an additional 75,751 shares during the period. First Hawaiian Bank grew 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 acquiring an additional 3,220 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew 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 acquiring an additional 3,384 shares during the period. Robeco Institutional Asset Management B.V. grew 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 acquiring an additional 148,321 shares during the period. Finally, World Asset Management Inc grew 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 acquiring an additional 2,641 shares during the period. 86.94% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $35.75.

Shares of XRX traded up $0.08 during midday trading on Friday, hitting $35.41. 2,775,260 shares of the stock were exchanged, compared to its average volume of 1,995,018. Xerox Corp has a 52-week low of $18.58 and a 52-week high of $35.62. The stock’s fifty day moving average is $33.24. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 10.23 and a beta of 1.66. The company has a current ratio of 1.47, a quick ratio of 1.18 and a debt-to-equity ratio of 0.84.

Xerox (NYSE:XRX) last released its quarterly earnings results on Thursday, April 25th. The information technology services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.27 billion. Xerox had a return on equity of 18.02% and a net margin of 4.91%. The company’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period last year, the business posted $0.68 earnings per share. As a group, equities research analysts anticipate that Xerox Corp will post 3.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, June 27th. Xerox’s payout ratio is currently 28.90%.

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.

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Institutional Ownership by Quarter for Xerox (NYSE:XRX)

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