Xerox in major deal talks with Fujifilm; XRX +3.8%

Mae Love
January 13, 2018

TOKYO-When Fujifilm Holdings Corp. first started a joint venture in photocopiers with Xerox Corp. more than 55 years ago, the Japanese company was in the shadow of its famous USA partner. The institutional investor owned 40,000 shares of the company's stock after selling 80,000 shares during the period. This represents a change from most recent open price of 3.49%. After the recent moves, investors may also look to see if the stock has entered oversold or overbought territory and could be ripe for a bounce. Of those insider trades, 0 shares of Xerox Corporation were purchased and 6,000 shares were sold. Bank of New York Mellon Corp now owns 8,622,287 shares of the information technology services provider's stock valued at $287,036,000 after buying an additional 1,578,302 shares in the last quarter.

Fruth Inv Mngmt holds 0.19% in Xerox Corporation (NYSE:XRX) or 12,483 shares. Concert Wealth Management Inc. now owns 10,375 shares of the company's stock valued at $104,000 after buying an additional 59 shares during the period. Polaris Management Lc owns 856,550 shares for 1.59% of their portfolio. Acrospire Investment Management LLC boosted its position in shares of Xerox Corporation by 738.5% in the third quarter. On Tuesday, January 10 the stock rating was upgraded by Goldman Sachs to "Buy". Finally, W. E. Donoghue & Co. Ameriprise Financial Inc. grew its position in Xerox by 37.5% during the 3rd quarter.

At the time of writing, the stock was trading at $4.45. The stock's 50 day moving average is $7.78 and its 200-day moving average is $9.25. Xerox Corp has a 12-month low of $26.48 and a 12-month high of $34.13. Ameriprise Financial Inc. now owns 4,392,867 shares of the information technology services provider's stock valued at $146,243,000 after buying an additional 1,197,634 shares in the last quarter. The information technology services provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.06. Xerox Corporation had a net margin of 3.74% and a return on equity of 12.62%. During the same quarter in the previous year, the firm posted $0.32 EPS. Xerox's payout ratio is 47.17%.

XRX has been the subject of several recent research reports. JP Morgan reinitiated Xerox Corporation (NYSE:XRX) on Tuesday, January 3 with "Overweight" rating.

But while an array of possible deals are on the table, it wouldn't be a full takeover of Xerox, according to the report. The company presently has a consensus rating of "Buy" and an average target price of $34.69. UBS Group reaffirmed a "hold" rating and issued a $34.50 price target on shares of Xerox in a research report on Tuesday, December 5th.

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Equity Research firms now have a positive stance on shares of Cerus Corporation (NASDAQ:CERS). The two companies have been taking part in a joint-venture together for the last 55 years and have a strong relationship. Citigroup maintained Xerox Corporation (NYSE:XRX) rating on Wednesday, August 2.

In other news, insider Herve Tessler sold 14,000 shares of the company's stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $28.59, for a total value of $171,540.00. Following the transaction, the insider now owns 96,319 shares of the company's stock, valued at $914,067.31.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. In the last ninety days, insiders sold 94,953 shares of company stock worth $901,645. The stock increased 0.53% or $0.16 during the last trading session, reaching $30.35.

Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The companyÂ's Document Technology segment offers desktop monochrome and color printers, multifunction printers, copiers, digital printing presses, and light production devices; and production printing and publishing systems for the graphic communications marketplace and large enterprises. The Company's Services segment comprises two types of service offerings: Business Process Outsourcing (BPO) and Document Outsourcing (DO).

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