Bailard Inc. Invests $277,000 in Xerox Corp (NYSE:XRX)

Bailard Inc. purchased a new position in shares of Xerox Corp (NYSE:XRX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,260 shares of the information technology services provider’s stock, valued at approximately $277,000.

Other hedge funds have also modified their holdings of the company. Gradient Investments LLC raised its stake in shares of Xerox by 751.0% in the second quarter. Gradient Investments LLC now owns 834 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 736 shares in the last quarter. Coastal Investment Advisors Inc. acquired a new position in shares of Xerox in the second quarter valued at $32,000. CWM LLC raised its stake in shares of Xerox by 57.9% in the second quarter. CWM LLC now owns 982 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 360 shares in the last quarter. NuWave Investment Management LLC raised its stake in shares of Xerox by 422.1% in the second quarter. NuWave Investment Management LLC now owns 1,227 shares of the information technology services provider’s stock valued at $43,000 after purchasing an additional 992 shares in the last quarter. Finally, North Star Investment Management Corp. acquired a new position in shares of Xerox in the third quarter valued at $37,000. Institutional investors own 84.95% of the company’s stock.

Shares of NYSE XRX opened at $30.36 on Wednesday. The business has a fifty day simple moving average of $29.91 and a 200 day simple moving average of $32.05. The company has a current ratio of 1.33, a quick ratio of 1.09 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 8.77 and a beta of 1.77. Xerox Corp has a one year low of $18.58 and a one year high of $36.58.

Xerox (NYSE:XRX) last issued its earnings results on Tuesday, July 30th. The information technology services provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. Xerox had a return on equity of 18.78% and a net margin of 5.76%. Xerox’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. On average, 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 Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.00 annualized dividend and a yield of 3.29%. Xerox’s dividend payout ratio is currently 28.90%.

In other Xerox news, EVP Herve Tessler sold 32,200 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $31.22, for a total transaction of $1,005,284.00. Following the completion of the transaction, the executive vice president now directly owns 11,804 shares in the company, valued at $368,520.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

XRX has been the subject of a number of recent research reports. ValuEngine lowered Xerox from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered Xerox from a “hold” rating to a “sell” rating and set a $32.00 target price for the company. in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $36.00.

About Xerox

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.

Read More: Is it better to buy a fund with a higher or lower NAV?

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.