Wealthtrust Axiom Lowers stake in Xerox Corp (XRX)

Xerox Corp (XRX) : Wealthtrust Axiom reduced its stake in Xerox Corp by 30.58% during the most recent quarter end. The investment management company now holds a total of 159,804 shares of Xerox Corp which is valued at $1,598,040 after selling 70,382 shares in Xerox Corp , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Xerox Corp makes up approximately 0.60% of Wealthtrust Axiom’s portfolio.

Other Hedge Funds, Including , Pggm Investments reduced its stake in XRX by selling 44,012 shares or 5.83% in the most recent quarter. The Hedge Fund company now holds 711,009 shares of XRX which is valued at $7,110,090. Xerox Corp makes up approx 0.04% of Pggm Investments’s portfolio.Palladium Partners reduced its stake in XRX by selling 4,567 shares or 8.32% in the most recent quarter. The Hedge Fund company now holds 50,335 shares of XRX which is valued at $493,786. Xerox Corp makes up approx 0.04% of Palladium Partners’s portfolio.

Xerox Corp opened for trading at $10.2 and hit $10.32 on the upside on Friday, eventually ending the session at $10.3, with a gain of 3.94% or 0.39 points. The heightened volatility saw the trading volume jump to 2,14,82,385 shares. Company has a market cap of $10,434 M.

On the company’s financial health, Xerox Corp reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $0.24. The company had revenue of $1385.00 million for the quarter, compared to analysts expectations of $4389.41 million. The company’s revenue was down -69.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.22 EPS.

Investors should note that on Jul 20, 2016, Xerox Corp announced a cash dividend of $0.0775. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 31, 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.

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