Xerox Corp (NYSE:XRX) was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 7,860,500 shares, an increase of 13.5% from the July 15th total of 6,923,800 shares. Based on an average daily trading volume, of 2,150,000 shares, the days-to-cover ratio is currently 3.7 days. Approximately 3.6% of the company’s shares are sold short.
A number of analysts recently issued reports on XRX shares. Zacks Investment Research lowered Xerox from a “hold” rating to a “sell” rating and set a $32.00 price target for the company. in a report on Monday. ValuEngine lowered Xerox from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Xerox has an average rating of “Hold” and a consensus price target of $36.00.
Shares of XRX opened at $31.23 on Thursday. Xerox has a 12 month low of $18.58 and a 12 month high of $36.58. The stock has a fifty day moving average price of $29.88 and a 200-day moving average price of $32.37. The company has a current ratio of 1.33, a quick ratio of 1.09 and a debt-to-equity ratio of 0.79. The firm has a market cap of $7.03 billion, a PE ratio of 9.03 and a beta of 1.76.
Xerox (NYSE:XRX) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.06. Xerox had a return on equity of 18.78% and a net margin of 5.76%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the firm earned $0.80 EPS. The firm’s revenue was down 8.8% on a year-over-year basis. As a group, research analysts forecast that Xerox will post 3.89 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Friday, September 27th. Xerox’s dividend payout ratio is currently 28.90%.
In other news, EVP Herve Tessler sold 32,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $31.22, for a total transaction of $1,005,284.00. Following the transaction, the executive vice president now owns 11,804 shares of the company’s stock, valued at $368,520.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.19% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in XRX. APG Asset Management N.V. grew its position in Xerox by 256.7% during the 2nd quarter. APG Asset Management N.V. now owns 3,973,815 shares of the information technology services provider’s stock worth $123,562,000 after purchasing an additional 2,859,700 shares during the period. Prudential Financial Inc. grew its position in shares of Xerox by 187.0% during the 2nd quarter. Prudential Financial Inc. now owns 2,465,149 shares of the information technology services provider’s stock valued at $87,291,000 after acquiring an additional 1,606,245 shares during the period. AQR Capital Management LLC grew its position in shares of Xerox by 21.5% during the 2nd quarter. AQR Capital Management LLC now owns 7,337,000 shares of the information technology services provider’s stock valued at $258,262,000 after acquiring an additional 1,300,415 shares during the period. Invesco Ltd. grew its position in shares of Xerox by 22.8% during the 2nd quarter. Invesco Ltd. now owns 6,208,273 shares of the information technology services provider’s stock valued at $219,834,000 after acquiring an additional 1,153,427 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Xerox by 68.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,543,039 shares of the information technology services provider’s stock valued at $90,051,000 after acquiring an additional 1,034,734 shares during the period. 85.31% of the stock is currently owned by institutional investors.
Xerox Company Profile
Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.
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