Joseph H. Mancini Sells 2,628 Shares of Xerox Corp. (XRX) Stock
Xerox Corp. (NYSE:XRX) VP Joseph H. Mancini sold 2,628 shares of the stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $9.18, for a total value of $24,125.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Xerox Corp. (NYSE:XRX) opened at 9.59 on Wednesday. The company has a market cap of $9.72 billion, a P/E ratio of 16.09 and a beta of 1.22. The company’s 50-day moving average price is $9.72 and its 200 day moving average price is $9.70. Xerox Corp. has a 52 week low of $8.48 and a 52 week high of $11.39.
Xerox Corp. (NYSE:XRX) last posted its quarterly earnings data on Friday, October 28th. The company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. The company earned $4.20 billion during the quarter, compared to analysts’ expectations of $4.31 billion. Xerox Corp. had a return on equity of 12.62% and a net margin of 3.74%. Xerox Corp.’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. On average, equities analysts forecast that Xerox Corp. will post $1.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Thursday, December 15th will be issued a dividend of $0.0775 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.31 annualized dividend and a yield of 3.23%. Xerox Corp.’s payout ratio is presently 50.00%.
Hedge funds have recently added to or reduced their stakes in the company. New York Life Trust Co. raised its stake in Xerox Corp. by 49.7% in the third quarter. New York Life Trust Co. now owns 10,203 shares of the company’s stock valued at $103,000 after buying an additional 3,387 shares during the last quarter. Concert Wealth Management Inc. raised its stake in Xerox Corp. by 0.6% in the third quarter. 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 last quarter. Lakeview Capital Partners LLC bought a new stake in Xerox Corp. during the third quarter valued at about $107,000. CIBC World Markets Inc. bought a new stake in Xerox Corp. during the second quarter valued at about $101,000. Finally, Acrospire Investment Management LLC raised its stake in Xerox Corp. by 738.5% in the third quarter. Acrospire Investment Management LLC now owns 10,900 shares of the company’s stock valued at $110,000 after buying an additional 9,600 shares during the last quarter. Institutional investors and hedge funds own 84.28% of the company’s stock.
XRX has been the topic of several research reports. Zacks Investment Research lowered Xerox Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, November 8th. SunTrust Banks Inc. initiated coverage on Xerox Corp. in a research report on Tuesday, September 13th. They issued a “buy” rating and a $13.00 target price on the stock. Brean Capital reaffirmed a “hold” rating on shares of Xerox Corp. in a research report on Monday, August 1st. Vetr lowered Xerox Corp. from a “strong-buy” rating to a “buy” rating and set a $10.47 target price on the stock. in a research report on Tuesday, October 4th. Finally, Morgan Stanley lowered Xerox Corp. from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $11.50 to $9.50 in a research report on Monday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $10.95.
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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