Xerox Corp. (XRX) CFO Sells $33,169.50 in Stock
Xerox Corp. (NYSE:XRX) CFO Leslie F. Varon sold 3,510 shares of Xerox Corp. stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $9.45, for a total transaction of $33,169.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Xerox Corp. (NYSE:XRX) traded up 1.28% during midday trading on Monday, hitting $9.50. 8,524,836 shares of the company traded hands. The firm has a market capitalization of $9.63 billion, a PE ratio of 15.94 and a beta of 1.22. Xerox Corp. has a 12-month low of $8.48 and a 12-month high of $11.39. The stock’s 50-day moving average is $9.56 and its 200-day moving average is $9.70.
Xerox Corp. (NYSE:XRX) last announced its quarterly earnings data on Friday, October 28th. The company reported $0.27 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. Xerox Corp. had a net margin of 3.74% and a return on equity of 12.62%. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the business posted $0.24 earnings per share. Xerox Corp.’s revenue was down 2.8% compared to the same quarter last year. Analysts anticipate that Xerox Corp. will post $1.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Thursday, December 15th will be issued a $0.0775 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $0.31 annualized dividend and a yield of 3.30%. Xerox Corp.’s dividend payout ratio is currently 50.00%.
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Institutional investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. purchased a new stake in shares of Xerox Corp. during the second quarter valued at approximately $59,249,000. Morgan Stanley increased its stake in shares of Xerox Corp. by 103.2% in the third quarter. Morgan Stanley now owns 11,975,266 shares of the company’s stock valued at $121,310,000 after buying an additional 6,081,485 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Xerox Corp. by 7.4% in the second quarter. Macquarie Group Ltd. now owns 67,253,384 shares of the company’s stock valued at $638,235,000 after buying an additional 4,645,879 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Xerox Corp. by 4.9% in the second quarter. Vanguard Group Inc. now owns 91,855,728 shares of the company’s stock valued at $871,711,000 after buying an additional 4,290,807 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Xerox Corp. by 71.9% in the third quarter. TIAA CREF Investment Management LLC now owns 7,515,731 shares of the company’s stock valued at $76,134,000 after buying an additional 3,143,630 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.
Several equities analysts have weighed in on XRX shares. Zacks Investment Research upgraded shares of Xerox Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, November 15th. Morgan Stanley cut shares of Xerox Corp. from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $11.50 to $9.50 in a research report on Monday, November 7th. Brean Capital reiterated a “hold” rating on shares of Xerox Corp. in a research report on Monday, October 31st. Vetr cut shares of Xerox Corp. from a “strong-buy” rating to a “buy” rating and set a $10.47 price objective on the stock. in a research report on Tuesday, October 4th. Finally, SunTrust Banks Inc. started coverage on shares of Xerox Corp. in a research report on Tuesday, September 13th. They set a “buy” rating and a $13.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Xerox Corp. presently has a consensus rating of “Hold” and an average 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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