Hartford Investment Management Co. Has $4.01 Million Position in Xerox Corporation (XRX)

Hartford Investment Management Co. lowered its position in Xerox Corporation (NYSE:XRX) by 75.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,406 shares of the information technology services provider’s stock after selling 425,757 shares during the period. Hartford Investment Management Co. owned about 0.05% of Xerox Corporation worth $4,005,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in XRX. Paragon Capital Management Ltd raised its stake in shares of Xerox Corporation by 201.7% in the second quarter. Paragon Capital Management Ltd now owns 11,588 shares of the information technology services provider’s stock worth $333,000 after buying an additional 7,747 shares during the period. Breton Hill Capital Ltd. bought a new stake in shares of Xerox Corporation during the second quarter worth about $1,914,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of Xerox Corporation during the second quarter worth about $933,000. James Investment Research Inc. bought a new stake in shares of Xerox Corporation during the second quarter worth about $684,000. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of Xerox Corporation by 52.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 35,055 shares of the information technology services provider’s stock worth $1,007,000 after buying an additional 12,074 shares during the period.

Xerox Corporation (NYSE XRX) opened at 31.45 on Friday. The firm has a 50-day moving average price of $30.54 and a 200-day moving average price of $29.14. Xerox Corporation has a 52 week low of $24.86 and a 52 week high of $32.99. The stock’s market cap is $7.99 billion.

Xerox Corporation (NYSE:XRX) last posted its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Xerox Corporation had a return on equity of 15.28% and a net margin of 4.55%. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter last year, the company posted $0.26 earnings per share. Xerox Corporation’s quarterly revenue was down 8.1% on a year-over-year basis. On average, equities research analysts predict that Xerox Corporation will post $3.35 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Thursday, September 28th. This is a boost from Xerox Corporation’s previous quarterly dividend of $0.06. Xerox Corporation’s payout ratio is currently 12.08%.

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A number of brokerages have recently issued reports on XRX. BidaskClub raised Xerox Corporation from a “hold” rating to a “buy” rating in a research report on Friday. Loop Capital reiterated a “buy” rating and set a $38.00 price target (up previously from $36.00) on shares of Xerox Corporation in a report on Tuesday, August 8th. Credit Suisse Group lifted their price target on Xerox Corporation from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Citigroup Inc. set a $39.00 price target on Xerox Corporation and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, ValuEngine downgraded Xerox Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $37.23.

About Xerox Corporation

Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment includes service offerings, such as BPO and Document Outsourcing (DO). It provides business services in markets across various industries and to government agencies.

Institutional Ownership by Quarter for Xerox Corporation (NYSE:XRX)

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