Trading Report: Today: Short Interest in Xerox Corp. (XRX) Declines By 24.0%

Today: Short Interest in Xerox Corp. (XRX) Declines By 24.0%

Xerox Corp. (NYSE:XRX) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 19,790,929 shares, a decline of 24.0% from the September 15th total of 26,057,442 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average trading volume of 9,323,473 shares, the short-interest ratio is currently 2.1 days.

A number of equities research analysts have recently issued reports on XRX shares. SunTrust Banks Inc. started coverage on Xerox Corp. in a report on Tuesday, September 13th. They set a “buy” rating and a $13.00 price objective for the company. Brean Capital restated a “hold” rating on shares of Xerox Corp. in a report on Monday, August 1st. Zacks Investment Research cut Xerox Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Vetr cut Xerox Corp. from a “strong-buy” rating to a “buy” rating and set a $10.47 price objective for the company. in a report on Tuesday, October 4th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating on shares of Xerox Corp. in a research report on Saturday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.10.

In other news, Chairman Ursula M. Burns sold 3,317 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $9.85, for a total transaction of $32,672.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Herve Tessler sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $9.89, for a total value of $128,570.00. Following the sale, the insider now owns 110,319 shares of the company’s stock, valued at approximately $1,091,054.91. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Pension Service increased its position in Xerox Corp. by 9.5% in the third quarter. National Pension Service now owns 812,356 shares of the company’s stock worth $8,229,000 after buying an additional 70,671 shares in the last quarter. Parametrica Management Ltd bought a new position in Xerox Corp. during the third quarter worth $248,000. MSI Financial Services Inc increased its position in Xerox Corp. by 15.5% in the third quarter. MSI Financial Services Inc now owns 26,242 shares of the company’s stock worth $266,000 after buying an additional 3,525 shares in the last quarter. Capstone Asset Management Co. increased its position in Xerox Corp. by 0.4% in the third quarter. Capstone Asset Management Co. now owns 158,041 shares of the company’s stock worth $1,601,000 after buying an additional 630 shares in the last quarter. Finally, Creative Planning increased its position in Xerox Corp. by 9.7% in the third quarter. Creative Planning now owns 21,754 shares of the company’s stock worth $220,000 after buying an additional 1,922 shares in the last quarter. 83.90% of the stock is owned by hedge funds and other institutional investors.

Shares of Xerox Corp. (NYSE:XRX) opened at 9.65 on Monday. The company has a market cap of $9.78 billion, a PE ratio of 25.20 and a beta of 1.29. The firm’s 50 day moving average is $9.87 and its 200-day moving average is $9.91. Xerox Corp. has a 1-year low of $8.48 and a 1-year high of $11.39.

Xerox Corp. (NYSE:XRX) last released its earnings results on Friday, July 29th. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. Xerox Corp. had a net margin of 2.49% and a return on equity of 12.36%. The firm earned $4.40 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the firm earned $0.22 EPS. The company’s revenue was down 69.8% compared to the same quarter last year. Equities analysts expect that Xerox Corp. will post $1.13 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.0775 per share. This represents a $0.31 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, September 28th. Xerox Corp.’s dividend payout ratio is currently 75.61%.

Xerox Corp. Company Profile

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