Xerox (NYSE:XRX – Get Free Report) had its price target cut by equities researchers at JPMorgan Chase & Co. from $18.00 to $17.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 19.13% from the company’s current price.
Separately, StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday.
View Our Latest Stock Analysis on XRX
Xerox Price Performance
Xerox (NYSE:XRX – Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.53 billion. Xerox had a return on equity of 9.41% and a net margin of 0.01%. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. Equities research analysts anticipate that Xerox will post 2.31 earnings per share for the current year.
Hedge Funds Weigh In On Xerox
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new stake in shares of Xerox in the fourth quarter worth approximately $25,000. GAMMA Investing LLC purchased a new stake in shares of Xerox during the fourth quarter worth $25,000. Hexagon Capital Partners LLC boosted its position in Xerox by 87.2% during the third quarter. Hexagon Capital Partners LLC now owns 1,627 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 758 shares during the last quarter. TFO Wealth Partners LLC grew its stake in Xerox by 30,127.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock valued at $61,000 after purchasing an additional 3,314 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Xerox by 1,733.2% during the 4th quarter. International Assets Investment Management LLC now owns 4,583 shares of the information technology services provider’s stock worth $84,000 after purchasing an additional 4,333 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.
Xerox Company Profile
Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.
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