Herve Tessler Sells 14,000 Shares of Xerox Corp. (XRX) Stock
Xerox Corp. (NYSE:XRX) insider Herve Tessler sold 14,000 shares of the business’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $9.49, for a total value of $132,860.00. Following the transaction, the insider now owns 96,319 shares of the company’s stock, valued at $914,067.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Xerox Corp. (NYSE:XRX) opened at 9.44 on Monday. Xerox Corp. has a 12-month low of $8.48 and a 12-month high of $11.39. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of 15.84 and a beta of 1.22. The company’s 50 day moving average price is $9.65 and its 200-day moving average price is $9.70.
Xerox Corp. (NYSE:XRX) last released its earnings results on Friday, October 28th. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. Xerox Corp. had a return on equity of 12.62% and a net margin of 3.74%. The business earned $4.20 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter last year, the firm posted $0.24 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. On average, equities analysts anticipate that Xerox Corp. will post $1.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Thursday, December 15th will be paid a $0.0775 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $0.31 dividend on an annualized basis and a yield of 3.28%. Xerox Corp.’s dividend payout ratio (DPR) is presently 50.00%.
A number of large investors have recently made changes to their positions in the stock. Legal & General Group Plc boosted its stake in shares of Xerox Corp. by 1.0% in the first quarter. Legal & General Group Plc now owns 5,206,164 shares of the company’s stock worth $58,105,000 after buying an additional 54,068 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Xerox Corp. by 7.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,067,322 shares of the company’s stock worth $10,128,000 after buying an additional 74,119 shares during the period. TLP Group LLC boosted its stake in shares of Xerox Corp. by 2,520.2% in the second quarter. TLP Group LLC now owns 62,884 shares of the company’s stock worth $597,000 after buying an additional 60,484 shares during the period. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Xerox Corp. by 59.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 12,721 shares of the company’s stock worth $121,000 after buying an additional 4,729 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in shares of Xerox Corp. by 4.7% in the first quarter. Panagora Asset Management Inc. now owns 8,273,775 shares of the company’s stock worth $92,335,000 after buying an additional 371,056 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.
XRX has been the topic of several recent analyst reports. Vetr cut Xerox Corp. from a “strong-buy” rating to a “hold” rating and set a $9.96 price objective on the stock. in a report on Tuesday, September 13th. Barclays PLC reiterated an “underweight” rating and set a $11.00 price objective (up previously from $10.00) on shares of Xerox Corp. in a report on Tuesday, August 2nd. SunTrust Banks Inc. initiated coverage on Xerox Corp. in a report on Tuesday, September 13th. They set a “buy” rating and a $13.00 price objective on the stock. Zacks Investment Research cut Xerox Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, October 19th. Finally, BMO Capital Markets lifted their price objective on Xerox Corp. from $10.00 to $10.50 and gave the company a “market perform” rating in a report on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $10.95.
About Xerox Corp.
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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