Xerox Corporation (NYSE:XRX) EVP Herve Tessler sold 6,000 shares of Xerox Corporation stock in a transaction on Monday, November 13th. The shares were sold at an average price of $28.59, for a total transaction of $171,540.00. Following the completion of the sale, the executive vice president now owns 35,878 shares of the company’s stock, valued at approximately $1,025,752.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Xerox Corporation (NYSE:XRX) traded up $0.05 during mid-day trading on Thursday, reaching $28.23. 261,768 shares of the company’s stock were exchanged, compared to its average volume of 2,434,117. The company has a market cap of $7,148.78, a price-to-earnings ratio of 8.36 and a beta of 1.14. The company has a quick ratio of 1.33, a current ratio of 1.63 and a debt-to-equity ratio of 0.97. Xerox Corporation has a fifty-two week low of $25.84 and a fifty-two week high of $39.08.
Xerox Corporation (NYSE:XRX) last announced its quarterly earnings results on Thursday, October 26th. The information technology services provider reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.06. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Xerox Corporation had a net margin of 5.29% and a return on equity of 17.23%. Xerox Corporation’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 EPS. research analysts anticipate that Xerox Corporation will post 3.38 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a yield of 3.54%. Xerox Corporation’s dividend payout ratio (DPR) is presently 48.31%.
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A number of hedge funds have recently made changes to their positions in XRX. Bank of New York Mellon Corp increased its stake in Xerox Corporation by 22.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,622,287 shares of the information technology services provider’s stock valued at $287,036,000 after purchasing an additional 1,578,302 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Xerox Corporation by 37.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,392,867 shares of the information technology services provider’s stock worth $146,243,000 after acquiring an additional 1,197,634 shares in the last quarter. Becker Capital Management Inc. bought a new stake in shares of Xerox Corporation in the 3rd quarter worth $39,003,000. Principal Financial Group Inc. grew its stake in shares of Xerox Corporation by 61.1% in the 2nd quarter. Principal Financial Group Inc. now owns 2,182,972 shares of the information technology services provider’s stock worth $62,715,000 after acquiring an additional 828,269 shares in the last quarter. Finally, W. E. Donoghue & Co. LLC bought a new stake in shares of Xerox Corporation in the 2nd quarter worth $16,580,000. Institutional investors and hedge funds own 85.46% of the company’s stock.
XRX has been the subject of several research analyst reports. ValuEngine lowered shares of Xerox Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Barclays PLC upgraded shares of Xerox Corporation from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $27.00 to $33.00 in a research note on Monday, July 24th. Loop Capital initiated coverage on shares of Xerox Corporation in a research note on Monday, July 24th. They issued a “buy” rating and a $36.00 price objective for the company. Zacks Investment Research upgraded shares of Xerox Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, UBS AG initiated coverage on shares of Xerox Corporation in a research note on Tuesday, October 3rd. They issued a “neutral” rating and a $36.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $35.50.
Xerox Corporation Company Profile
Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.
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