Insider Selling: Don H. Liu Sells 20,000 Shares of Xerox Corp Stock (XRX)
Xerox Corp (NYSE:XRX) Insider Don H. Liu unloaded 20,000 shares of the company’s stock on the open market in a transaction dated Monday, August 4th. The stock was sold at an average price of $13.10, for a total transaction of $262,000.00. Following the completion of the transaction, the insider now directly owns 225,988 shares in the company, valued at approximately $2,960,443. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on XRX. Analysts at Zacks reiterated a “neutral” rating on shares of Xerox Corp in a research note on Friday. They now have a $14.00 price target on the stock. Separately, analysts at Susquehanna raised their price target on shares of Xerox Corp from $14.00 to $16.50 in a research note on Monday, July 28th. Finally, analysts at JPMorgan Chase & Co. upgraded shares of Xerox Corp from an “underweight” rating to a “neutral” rating in a research note on Monday, July 28th. They now have a $14.00 price target on the stock, up previously from $13.00. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $13.56.
Shares of Xerox Corp (NYSE:XRX) traded down 0.53% on Tuesday, hitting $13.06. The stock had a trading volume of 5,582,915 shares. Xerox Corp has a 52-week low of $9.55 and a 52-week high of $13.38. The stock has a 50-day moving average of $12.69 and a 200-day moving average of $11.75. The company has a market cap of $15.060 billion and a P/E ratio of 14.30. Xerox Corp also saw a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 13,825,969 shares, a decrease of 15.0% from the June 30th total of 16,258,819 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average trading volume of 7,715,032 shares, the days-to-cover ratio is presently 1.8 days.
Xerox Corp (NYSE:XRX) last issued its quarterly earnings data on Friday, July 25th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.26 by $0.01. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. Analysts expect that Xerox Corp will post $1.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, September 26th.
Xerox Corporationprovides services and technology to enable its customers from small businesses to large global enterprises to focus on their core business.
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