Other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. now owns 2,182,972 shares of the information technology services provider's stock valued at $62,715,000 after buying an additional 828,269 shares during the last quarter. Acrospire Investment Management LLC boosted its position in shares of Xerox Corporation by 738.5% in the third quarter. As shares of firm has 20 days moving average price of 6.67% from last close price of 17.27 and act as support or resistance of price limit. Following the completion of the sale, the executive vice president now owns 35,878 shares in the company, valued at approximately $1,025,752.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Institutional investors and hedge funds own 83.54% of the company's stock. The stock exchanged hands with 181,027 numbers of shares compared to its average daily volume of 1.33M shares. UBS Group reaffirmed a "hold" rating and issued a $34.50 price target on shares of Xerox in a research report on Tuesday, December 5th. Finally, Brean Capital restated a "hold" rating on shares of Xerox Corporation in a research note on Monday, October 31st. (The) upgraded Xerox Corporation from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $10.50 to $8.50 in a research note on Tuesday, January 10th. The stock traded on impressive volume of 4.11 Million comparing to the average volume of 7989.35 shares, completing picture of exact trends with uncompleted dots in volume over the norm.
Xerox's market cap is about $7.7B and the company has more than $4B in net debt. The firm's price-to-sales ratio was noted 0.75 in contrast with an overall industry average of 1.16. Xerox Corp has a 12-month low of $26.48 and a 12-month high of $34.13. The information technology services provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.06. The business had revenue of $2.70 billion for the quarter, compared to analysts' expectations of $2.77 billion.
Looking into last 5 trades, the stock observed a return of nearly 0.87%. During the same quarter in the previous year, the firm posted $0.32 EPS.
In early trading on Thursday, shares of Xerox Corp ( XRX ) topped the list of the day's best performing components of the S&P 500 index, trading up 4.9%.
Dividends is a reward scheme, that a company presents to its shareholders. This represents a $1.00 annualized dividend and a yield of 3.29%. The ex-dividend date is Thursday, December 28th. Xerox's payout ratio is presently 47.17%.
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