Xerox Corp (NYSE:XRX) insider Michael David Feldman sold 3,729 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $29.00, for a total value of $108,141.00. Following the transaction, the insider now directly owns 2,869 shares of the company’s stock, valued at $83,201. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of XRX stock traded up $0.03 during trading hours on Thursday, hitting $29.06. 121,319 shares of the company’s stock were exchanged, compared to its average volume of 3,928,289. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.82 and a quick ratio of 1.47. Xerox Corp has a fifty-two week low of $23.52 and a fifty-two week high of $37.42. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 8.38 and a beta of 1.13.

Xerox (NYSE:XRX) last issued its earnings results on Tuesday, October 23rd. The information technology services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.07. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Xerox had a return on equity of 16.50% and a net margin of 0.34%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 EPS. Analysts anticipate that Xerox Corp will post 3.42 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Friday, December 28th. Xerox’s payout ratio is currently 28.74%.

XRX has been the subject of several research analyst reports. Citigroup initiated coverage on Xerox in a research note on Friday, July 20th. They set a “buy” rating and a $39.00 target price for the company. JPMorgan Chase & Co. reduced their target price on Xerox from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, July 27th. Zacks Investment Research downgraded Xerox from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. Finally, ValuEngine raised Xerox from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $35.10.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan grew its holdings in shares of Xerox by 62.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 24,497 shares of the information technology services provider’s stock worth $588,000 after purchasing an additional 9,400 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Xerox by 20.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 12,850 shares of the information technology services provider’s stock worth $308,000 after purchasing an additional 2,174 shares during the period. Levin Capital Strategies L.P. grew its holdings in shares of Xerox by 280.6% during the 2nd quarter. Levin Capital Strategies L.P. now owns 184,592 shares of the information technology services provider’s stock worth $4,430,000 after purchasing an additional 136,098 shares during the period. Morgan Stanley grew its holdings in shares of Xerox by 47.3% during the 2nd quarter. Morgan Stanley now owns 1,751,474 shares of the information technology services provider’s stock worth $42,035,000 after purchasing an additional 562,228 shares during the period. Finally, Sanders Morris Harris LLC purchased a new position in shares of Xerox during the 2nd quarter worth $4,177,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

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Xerox Company Profile

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.

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