Xerox Corp (NYSE:XRX) Sees Large Growth in Short Interest

Xerox Corp (NYSE:XRX) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 8,560,000 shares, an increase of 10.3% from the September 30th total of 7,760,000 shares. Approximately 4.1% of the shares of the stock are sold short. Based on an average daily volume of 2,130,000 shares, the short-interest ratio is presently 4.0 days.

In other news, EVP Herve Tessler sold 32,200 shares of Xerox stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $31.22, for a total value of $1,005,284.00. Following the transaction, the executive vice president now owns 11,804 shares in the company, valued at approximately $368,520.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Several large investors have recently bought and sold shares of XRX. FMR LLC lifted its position in shares of Xerox by 358.3% during the first quarter. FMR LLC now owns 1,250,108 shares of the information technology services provider’s stock worth $39,979,000 after acquiring an additional 977,310 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of Xerox by 100.6% in the second quarter. DNB Asset Management AS now owns 130,187 shares of the information technology services provider’s stock worth $4,610,000 after purchasing an additional 65,300 shares during the period. Empirical Finance LLC increased its holdings in shares of Xerox by 1.1% in the second quarter. Empirical Finance LLC now owns 47,186 shares of the information technology services provider’s stock worth $1,671,000 after purchasing an additional 515 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of Xerox by 2.2% in the second quarter. Crossmark Global Holdings Inc. now owns 45,936 shares of the information technology services provider’s stock worth $1,627,000 after purchasing an additional 979 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its holdings in shares of Xerox by 23.4% in the second quarter. Campbell & CO Investment Adviser LLC now owns 10,867 shares of the information technology services provider’s stock worth $385,000 after purchasing an additional 2,058 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Several research firms recently weighed in on XRX. Zacks Investment Research raised Xerox from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a report on Sunday, November 3rd. JPMorgan Chase & Co. raised Xerox from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $31.00 to $38.00 in a report on Tuesday. Credit Suisse Group lifted their target price on Xerox from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, ValuEngine raised Xerox from a “strong sell” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Shares of XRX stock traded up $0.07 during trading on Friday, hitting $38.72. The company’s stock had a trading volume of 36,708 shares, compared to its average volume of 2,880,773. The company has a market cap of $8.10 billion, a PE ratio of 11.17 and a beta of 1.79. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 0.66. The business has a fifty day moving average of $31.87 and a 200-day moving average of $32.12. Xerox has a 52 week low of $18.58 and a 52 week high of $39.38.

Xerox (NYSE:XRX) last posted its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.86 by $0.22. Xerox had a return on equity of 19.62% and a net margin of 7.28%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. Xerox’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, research analysts predict that Xerox will post 3.88 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 30th. This represents a $1.00 annualized dividend and a dividend yield of 2.58%. Xerox’s dividend payout ratio is currently 28.90%.

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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