Xerox (NYSE:XRX) was downgraded by investment analysts at TheStreet from a “b” rating to a “c” rating in a research note issued to investors on Tuesday, TheStreetRatingsTable reports.
Separately, Zacks Investment Research upgraded shares of Xerox from a “strong sell” rating to a “hold” rating and set a $24.00 price objective for the company in a research report on Tuesday, December 28th.
Shares of XRX stock opened at $20.11 on Tuesday. Xerox has a 12-month low of $17.59 and a 12-month high of $26.96. The company has a market capitalization of $3.59 billion, a P/E ratio of 13.59 and a beta of 1.73. The firm has a 50-day moving average price of $21.53 and a 200 day moving average price of $21.58. The company has a quick ratio of 1.60, a current ratio of 1.88 and a debt-to-equity ratio of 0.71.
Xerox (NYSE:XRX) last announced its quarterly earnings results on Monday, January 24th. The information technology services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.04. The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. Xerox had a net margin of 4.13% and a return on equity of 6.56%. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period last year, the firm posted $0.58 EPS. As a group, research analysts expect that Xerox will post 1.5 earnings per share for the current year.
In other Xerox news, Director Hernandez Margarita Palau purchased 5,500 shares of the stock in a transaction dated Monday, November 1st. The stock was bought at an average price of $18.72 per share, for a total transaction of $102,960.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.57% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Voya Investment Management LLC grew its position in shares of Xerox by 2.6% during the 3rd quarter. Voya Investment Management LLC now owns 25,833 shares of the information technology services provider’s stock worth $521,000 after buying an additional 663 shares during the period. TCI Wealth Advisors Inc. grew its position in shares of Xerox by 81.1% during the 4th quarter. TCI Wealth Advisors Inc. now owns 1,612 shares of the information technology services provider’s stock worth $36,000 after buying an additional 722 shares during the period. Xponance Inc. grew its position in shares of Xerox by 4.9% during the 2nd quarter. Xponance Inc. now owns 18,684 shares of the information technology services provider’s stock worth $439,000 after buying an additional 874 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Xerox by 73.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,278 shares of the information technology services provider’s stock worth $52,000 after buying an additional 962 shares during the period. Finally, Value Holdings Management CO. LLC grew its holdings in Xerox by 0.7% during the fourth quarter. Value Holdings Management CO. LLC now owns 148,500 shares of the information technology services provider’s stock valued at $3,363,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 80.43% of the company’s stock.
Xerox Company Profile
Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers intelligent workplace services; and digital services that leverage its software capabilities in workflow automation, personalization and communication software, content management solutions, and digitization services.