Short Interest in Xerox Corp. (XRX) Declines By 24.0%
Xerox Corp. (NYSE:XRX) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 19,790,929 shares, a decline of 24.0% from the September 15th total of 26,057,442 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average trading volume of 9,323,473 shares, the short-interest ratio is currently 2.1 days.
A number of equities research analysts have recently issued reports on XRX shares. SunTrust Banks Inc. started coverage on Xerox Corp. in a report on Tuesday, September 13th. They set a “buy” rating and a $13.00 price objective for the company. Brean Capital restated a “hold” rating on shares of Xerox Corp. in a report on Monday, August 1st. Zacks Investment Research cut Xerox Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Vetr cut Xerox Corp. from a “strong-buy” rating to a “buy” rating and set a $10.47 price objective for the company. in a report on Tuesday, October 4th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating on shares of Xerox Corp. in a research report on Saturday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.10.
In other news, Chairman Ursula M. Burns sold 3,317 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $9.85, for a total transaction of $32,672.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Herve Tessler sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $9.89, for a total value of $128,570.00. Following the sale, the insider now owns 110,319 shares of the company’s stock, valued at approximately $1,091,054.91. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Pension Service increased its position in Xerox Corp. by 9.5% in the third quarter. National Pension Service now owns 812,356 shares of the company’s stock worth $8,229,000 after buying an additional 70,671 shares in the last quarter. Parametrica Management Ltd bought a new position in Xerox Corp. during the third quarter worth $248,000. MSI Financial Services Inc increased its position in Xerox Corp. by 15.5% in the third quarter. MSI Financial Services Inc now owns 26,242 shares of the company’s stock worth $266,000 after buying an additional 3,525 shares in the last quarter. Capstone Asset Management Co. increased its position in Xerox Corp. by 0.4% in the third quarter. Capstone Asset Management Co. now owns 158,041 shares of the company’s stock worth $1,601,000 after buying an additional 630 shares in the last quarter. Finally, Creative Planning increased its position in Xerox Corp. by 9.7% in the third quarter. Creative Planning now owns 21,754 shares of the company’s stock worth $220,000 after buying an additional 1,922 shares in the last quarter. 83.90% of the stock is owned by hedge funds and other institutional investors.
Shares of Xerox Corp. (NYSE:XRX) opened at 9.65 on Monday. The company has a market cap of $9.78 billion, a PE ratio of 25.20 and a beta of 1.29. The firm’s 50 day moving average is $9.87 and its 200-day moving average is $9.91. Xerox Corp. has a 1-year low of $8.48 and a 1-year high of $11.39.
Xerox Corp. (NYSE:XRX) last released its earnings results on Friday, July 29th. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. Xerox Corp. had a net margin of 2.49% and a return on equity of 12.36%. The firm earned $4.40 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the firm earned $0.22 EPS. The company’s revenue was down 69.8% compared to the same quarter last year. Equities analysts expect that Xerox Corp. will post $1.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.0775 per share. This represents a $0.31 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, September 28th. Xerox Corp.’s dividend payout ratio is currently 75.61%.
Xerox Corp. Company Profile
Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s segments include Services, Document Technology and Other. The Company’s Services segment comprises two types of service offerings: Business Process Outsourcing (BPO) and Document Outsourcing (DO).
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