Xerox Corp (XRX) : Mercer Capital Advisers has sold out all of its stake in Xerox Corp during the most recent quarter, according to the disclosure filed by the company on Apr 21, 2016 with the SEC. The investment management company has sold out 2,300 shares of Xerox Corp which is valued at $25,691.
Xerox Corp opened for trading at $9.76 and hit $10.01 on the upside on Wednesday, eventually ending the session at $10, with a gain of 1.94% or 0.19 points. The heightened volatility saw the trading volume jump to 1,52,90,868 shares. Company has a market cap of $10,129 M.
Other Hedge Funds, Including , Next Financial Group Inc reduced its stake in XRX by selling 125 shares or 38.94% in the most recent quarter. The Hedge Fund company now holds 196 shares of XRX which is valued at $2,189.1st Global Advisors boosted its stake in XRX in the latest quarter, The investment management firm added 17,143 additional shares and now holds a total of 55,398 shares of Xerox Corp which is valued at $619,904. Xerox Corp makes up approx 0.09% of 1st Global Advisors’s portfolio. Integral Derivatives sold out all of its stake in XRX during the most recent quarter. The investment firm sold 13,383 shares of XRX which is valued $149,756.
On the company’s financial health, Xerox Corp reported $0.22 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 25, 2016. Analyst had a consensus of $0.23. The company had revenue of $4281.00 million for the quarter, compared to analysts expectations of $4233.57 million. The company’s revenue was down -4.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.21 EPS.
Many Wall Street Analysts have commented on Xerox Corp. Xerox Corp was Downgraded by Brean Capital to ” Hold” on Apr 26, 2016. Xerox Corp was Downgraded by Morgan Stanley to ” Equal-Weight” on Feb 1, 2016.
Xerox Corporation is engaged in offering business process and document management solutions. The Company operates through the following segments: Services Document Technology and Other. The Company’s customers include small and midsize businesses (SMBs) graphic communications companies Governmental entities educational institutions and Fortune 1000 corporate accounts. The Company’s Services segment provides two types of service offerings: Business Process Outsourcing (BPO) and Document Outsourcing (DO). It provides multi-industry offerings such as customer care transaction processing finance and accounting and human resources as well as industry focused offerings in areas such as healthcare transportation financial services retail and telecommunications. The Company’s Document Technology segment includes the sale of products and supplies as well as the associated technical service and financing of those products.