Xerox (NYSE:XRX – Get Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.
Separately, JPMorgan Chase & Co. increased their price objective on Xerox from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, January 26th.
Read Our Latest Analysis on XRX
Xerox Stock Down 0.1 %
Xerox (NYSE:XRX – Get Free Report) last posted its earnings results on Thursday, January 25th. The information technology services provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.09). The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.79 billion. Xerox had a net margin of 0.01% and a return on equity of 9.41%. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period last year, the company posted $0.89 EPS. Analysts predict that Xerox will post 2.27 EPS for the current fiscal year.
Hedge Funds Weigh In On Xerox
Several large investors have recently added to or reduced their stakes in XRX. BlackRock Inc. lifted its position in Xerox by 15.1% during the first quarter. BlackRock Inc. now owns 15,540,136 shares of the information technology services provider’s stock worth $239,318,000 after buying an additional 2,033,262 shares during the period. Vanguard Group Inc. lifted its position in Xerox by 10.2% during the third quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock worth $247,765,000 after buying an additional 1,464,851 shares during the period. Bridgeway Capital Management LLC purchased a new position in Xerox during the fourth quarter worth about $17,470,000. AQR Capital Management LLC lifted its position in Xerox by 81.3% during the first quarter. AQR Capital Management LLC now owns 1,889,370 shares of the information technology services provider’s stock worth $28,378,000 after buying an additional 847,204 shares during the period. Finally, Intrinsic Edge Capital Management LLC purchased a new position in Xerox during the fourth quarter worth about $14,832,000. 85.36% of the stock is currently owned by hedge funds and other 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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