Xerox (NYSE:XRX – Get Free Report) was upgraded by 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. raised 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.
Check Out Our Latest Stock Analysis on Xerox
Xerox Price Performance
Xerox (NYSE:XRX – Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The information technology services provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.09). The business 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 quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share. Analysts predict that Xerox will post 2.27 EPS for the current fiscal year.
Hedge Funds Weigh In On Xerox
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased 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 in the last quarter. Vanguard Group Inc. increased 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 in the last quarter. Bridgeway Capital Management LLC purchased a new position in Xerox during the fourth quarter worth $17,470,000. AQR Capital Management LLC increased 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 in the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new position in Xerox during the fourth quarter worth $14,832,000. 85.36% of the stock is 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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