Xerox (NYSE:XRX) PT Lowered to $17.00 at JPMorgan Chase & Co.

Xerox (NYSE:XRX) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $18.00 to $17.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 19.13% from the stock’s current price.

Separately, StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a report on Wednesday.

Xerox Trading Down 3.3 %

XRX traded down $0.49 during trading hours on Wednesday, reaching $14.27. 2,454,731 shares of the company’s stock traded hands, compared to its average volume of 2,382,328. The company has a quick ratio of 0.91, a current ratio of 1.14 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average price of $17.50 and a 200 day moving average price of $16.31. Xerox has a 52-week low of $12.06 and a 52-week high of $19.78. The firm has a market capitalization of $1.77 billion, a PE ratio of -72.10 and a beta of 1.56.

Xerox (NYSE:XRX) last released its quarterly earnings data on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.29). Xerox had a net margin of 0.01% and a return on equity of 9.41%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm earned $0.49 earnings per share. Xerox’s quarterly revenue was down 12.8% on a year-over-year basis. As a group, sell-side analysts predict that Xerox will post 2.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Xerox

Large investors have recently bought and sold shares of the stock. SummerHaven Investment Management LLC increased its stake in Xerox by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 45,742 shares of the information technology services provider’s stock valued at $838,000 after buying an additional 597 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of Xerox by 1.0% during the fourth quarter. Yousif Capital Management LLC now owns 64,642 shares of the information technology services provider’s stock worth $1,185,000 after buying an additional 615 shares in the last quarter. Hexagon Capital Partners LLC grew its position in shares of Xerox by 38.7% in the 4th quarter. Hexagon Capital Partners LLC now owns 2,257 shares of the information technology services provider’s stock valued at $41,000 after buying an additional 630 shares during the last quarter. Arden Trust Co grew its position in shares of Xerox by 1.8% during the 4th quarter. Arden Trust Co now owns 36,561 shares of the information technology services provider’s stock worth $670,000 after buying an additional 661 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Xerox by 3.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 33,635 shares of the information technology services provider’s stock valued at $528,000 after acquiring an additional 975 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Company Profile

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.