Northpointe Capital LLC Takes Position in Xerox Corp (XRX)

Northpointe Capital LLC purchased a new stake in shares of Xerox Corp (NYSE:XRX) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 90,851 shares of the information technology services provider’s stock, valued at approximately $2,905,000.

Other large investors have also recently bought and sold shares of the company. Moody National Bank Trust Division purchased a new stake in shares of Xerox during the first quarter valued at approximately $35,000. Legacy Bridge LLC purchased a new stake in shares of Xerox during the fourth quarter valued at approximately $30,000. CSat Investment Advisory L.P. grew its holdings in shares of Xerox by 56.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,013 shares of the information technology services provider’s stock valued at $40,000 after buying an additional 730 shares during the last quarter. First Mercantile Trust Co. grew its holdings in shares of Xerox by 62.7% during the fourth quarter. First Mercantile Trust Co. now owns 2,570 shares of the information technology services provider’s stock valued at $50,000 after buying an additional 990 shares during the last quarter. Finally, Manchester Capital Management LLC grew its holdings in shares of Xerox by 1,366.3% during the fourth quarter. Manchester Capital Management LLC now owns 2,654 shares of the information technology services provider’s stock valued at $64,000 after buying an additional 2,473 shares during the last quarter. Hedge funds and other institutional investors own 85.15% of the company’s stock.

Xerox stock traded down $0.22 during midday trading on Wednesday, reaching $34.79. 585,381 shares of the company traded hands, compared to its average volume of 2,601,214. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 10.05 and a beta of 1.70. Xerox Corp has a 12 month low of $18.58 and a 12 month high of $35.01. The company has a quick ratio of 1.19, a current ratio of 1.44 and a debt-to-equity ratio of 0.85.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Tuesday, January 29th. The information technology services provider reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.02). Xerox had a net margin of 3.67% and a return on equity of 16.81%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter last year, the company earned $1.04 EPS. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. Sell-side analysts expect that Xerox Corp will post 3.76 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.00 annualized dividend and a yield of 2.87%. Xerox’s payout ratio is presently 28.90%.

A number of research firms have recently commented on XRX. Zacks Investment Research cut shares of Xerox from a “buy” rating to a “hold” rating in a report on Saturday. Credit Suisse Group started coverage on shares of Xerox in a research report on Thursday, April 11th. They set an “outperform” rating and a $42.00 price objective on the stock. TheStreet upgraded shares of Xerox from a “c+” rating to a “b-” rating in a research report on Friday, February 22nd. Standpoint Research downgraded shares of Xerox from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. Finally, ValuEngine upgraded shares of Xerox from a “sell” rating to a “hold” rating in a research report on Thursday, February 7th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $36.60.

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Xerox 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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