Xerox (NYSE:XRX) Rating Increased to Buy at StockNews.com

Xerox (NYSE:XRX) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

A number of other analysts have also recently issued reports on XRX. Morgan Stanley reduced their price objective on shares of Xerox from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Wednesday, October 25th. JPMorgan Chase & Co. reduced their price objective on shares of Xerox from $16.00 to $15.00 and set an “underweight” rating for the company in a research note on Wednesday, October 25th.

Xerox Stock Up 4.1 %

XRX opened at $13.77 on Monday. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.98. Xerox has a 1-year low of $12.06 and a 1-year high of $18.00. The company has a market capitalization of $1.69 billion, a PE ratio of 13.24 and a beta of 1.73. The firm’s 50 day simple moving average is $14.69 and its two-hundred day simple moving average is $14.99.

Xerox (NYSE:XRX) last released its quarterly earnings results on Tuesday, October 24th. The information technology services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.11. Xerox had a net margin of 2.55% and a return on equity of 11.59%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm earned $0.19 earnings per share. The company’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, equities analysts forecast that Xerox will post 1.84 EPS for the current year.

Insider Activity at Xerox

In other Xerox news, EVP Suzan Morno-Wade sold 9,126 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $16.75, for a total transaction of $152,860.50. Following the completion of the transaction, the executive vice president now owns 46,323 shares in the company, valued at $775,910.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Xerox news, EVP Suzan Morno-Wade sold 9,126 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $16.75, for a total transaction of $152,860.50. Following the completion of the transaction, the executive vice president now owns 46,323 shares in the company, valued at $775,910.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Carl C. Icahn sold 34,245,314 shares of the stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $15.84, for a total transaction of $542,445,773.76. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Xerox

Several institutional investors have recently made changes to their positions in XRX. JPMorgan Chase & Co. lifted its holdings in shares of Xerox by 20.2% in the 1st quarter. JPMorgan Chase & Co. now owns 560,997 shares of the information technology services provider’s stock worth $11,315,000 after acquiring an additional 94,090 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Xerox in the 1st quarter worth about $604,000. American Century Companies Inc. lifted its holdings in shares of Xerox by 14.5% in the 1st quarter. American Century Companies Inc. now owns 28,887 shares of the information technology services provider’s stock worth $582,000 after acquiring an additional 3,654 shares during the last quarter. US Bancorp DE lifted its holdings in Xerox by 24.4% during the 1st quarter. US Bancorp DE now owns 8,232 shares of the information technology services provider’s stock valued at $167,000 after buying an additional 1,615 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Xerox by 12.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,121 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 1,807 shares in the last quarter. Institutional investors own 83.53% 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 Americas, Europe, the Middle East, Africa, India, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.