Shares of Xerox Corp (NYSE:XRX) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $34.68 and last traded at $34.48, with a volume of 43182 shares changing hands. The stock had previously closed at $34.39.
XRX has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Xerox from a “sell” rating to a “hold” rating in a report on Saturday, January 26th. ValuEngine upgraded shares of Xerox from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 29th. Standpoint Research lowered shares of Xerox from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. TheStreet upgraded shares of Xerox from a “c+” rating to a “b-” rating in a report on Friday, February 22nd. Finally, Credit Suisse Group started coverage on shares of Xerox in a report on Thursday, April 11th. They issued an “outperform” rating and a $42.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $36.60.
The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.19 and a current ratio of 1.44. The company has a market capitalization of $7.98 billion, a PE ratio of 10.12 and a beta of 1.70.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Thursday, March 28th. Xerox’s dividend payout ratio (DPR) is 28.90%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Water Island Capital LLC boosted its holdings 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 valued at $6,875,000 after purchasing an additional 75,751 shares in the last quarter. First Hawaiian Bank boosted its holdings in shares of Xerox by 534.9% in the first quarter. First Hawaiian Bank now owns 3,822 shares of the information technology services provider’s stock valued at $122,000 after acquiring an additional 3,220 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Xerox by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 230,077 shares of the information technology services provider’s stock valued at $6,207,000 after acquiring an additional 7,379 shares during the period. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Xerox in the fourth quarter valued at approximately $763,000. Finally, Neuberger Berman Group LLC boosted its holdings in shares of Xerox by 449.7% in the third quarter. Neuberger Berman Group LLC now owns 582,803 shares of the information technology services provider’s stock valued at $15,724,000 after acquiring an additional 476,785 shares during the period. 85.15% of the stock is owned by hedge funds and other institutional investors.
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Xerox Company Profile (NYSE:XRX)
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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