Xerox (NYSE:XRX – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
Other research analysts also recently issued reports about the company. Citigroup began coverage on Xerox in a report on Friday, June 28th. They issued a “sell” rating and a $11.00 price target for the company. JPMorgan Chase & Co. lowered their target price on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Wednesday, April 24th.
Get Our Latest Analysis on Xerox
Xerox Price Performance
Xerox (NYSE:XRX – Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.29). The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. On average, research analysts forecast that Xerox will post 2.05 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new position in Xerox during the 4th quarter valued at about $25,000. GAMMA Investing LLC bought a new stake in shares of Xerox during the fourth quarter valued at about $25,000. CWM LLC grew its position in Xerox by 155.5% in the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 1,378 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Xerox by 38.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 2,257 shares of the information technology services provider’s stock valued at $41,000 after acquiring an additional 630 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of Xerox during the first quarter valued at approximately $45,000. 85.36% of the stock is currently owned by institutional investors.
About Xerox
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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