November 29, 2016 - By Peter Kolinski
Xerox Corp’s CFO (Interim), Leslie Varon, sold 3,510 shares of stock in the corporation. The average price paid by Leslie Varon was $9.5, for full trade worth of $33,170 U.S. Dollars.
Out of 10 analysts covering Xerox Corporation (NYSE:XRX), 3 rate it a “Buy”, 3 “Sell”, while 4 “Hold”. This means 30% are positive. $15 is the highest target while $9 is the lowest. The $11.50 average target is 21.56% above today’s ($9.46) stock price. Xerox Corporation has been the topic of 16 analyst reports since July 28, 2015 according to StockzIntelligence Inc. On Tuesday, April 26 the stock rating was maintained by JP Morgan with “Neutral”. The company was maintained on Saturday, August 29 by Piper Jaffray. Goldman Sachs initiated the stock with “Neutral” rating in Tuesday, December 1 report. The stock of Xerox Corp (NYSE:XRX) has “Sell” rating given on Wednesday, September 2 by Zacks. As per Monday, November 7, the company rating was downgraded by Morgan Stanley. As per Tuesday, April 26, the company rating was downgraded by Brean Capital. As per Tuesday, September 13, the company rating was initiated by SunTrust. Credit Suisse maintained the stock with “Neutral” rating in Tuesday, April 26 report. Morgan Stanley maintained it with “Equal-Weight” rating and $11 target price in Tuesday, April 26 report. The stock has “Sell” rating given by Zacks on Wednesday, August 12.
Insitutional Activity: The institutional sentiment increased to 1.19 in 2016 Q2. Its up 0.17, from 1.02 in 2016Q1. The ratio improved, as 38 funds sold all Xerox Corp shares owned while 169 reduced positions. 52 funds bought stakes while 160 increased positions. They now own 834.51 million shares or 1.20% less from 844.68 million shares in 2016Q1.
New Mexico Educational Retirement Board accumulated 110,962 shares or 0.05% of the stock. Lazard Asset Management Ltd has 0.01% invested in the company for 508,805 shares. Moreover, Millennium Mgmt Lc has 0.04% invested in Xerox Corp (NYSE:XRX) for 1.79 million shares. The France-based Credit Agricole S A has invested 0.02% in Xerox Corp (NYSE:XRX). Moreover, Hanson And Doremus Invest Mngmt has 0.82% invested in Xerox Corp (NYSE:XRX) for 190,148 shares. Alyeska Gp L P last reported 5.27M shares in the company. Moreover, Nelson Roberts Invest Advsr Limited Liability Company has 0% invested in Xerox Corp (NYSE:XRX) for 400 shares. Westport Res Mgmt Incorporated accumulated 600 shares or 0% of the stock. Moreover, Stevens Mngmt Lp has 0.01% invested in Xerox Corp (NYSE:XRX) for 38,286 shares. Menta Capital Lc last reported 0.03% of its portfolio in the stock. Hm Payson And last reported 82,775 shares in the company. The Maryland-based Calvert Inc has invested 0.03% in Xerox Corp (NYSE:XRX). State Common Retirement Fund has 0.04% invested in the company for 2.72M shares. Oxbow Advsr Limited Company has 0.26% invested in the company for 194,825 shares. Shinko Asset Mngmt, a Japan-based fund reported 2,384 shares.
Insider Transactions: Since July 1, 2016, the stock had 0 insider purchases, and 7 sales for $1.51 million net activity. 1,699 Xerox Corp (NYSE:XRX) shares with value of $17,039 were sold by Mancini Joseph H.. Tessler Herve also sold $128,573 worth of Xerox Corp (NYSE:XRX) shares. BURNS URSULA M had sold 3,317 shares worth $32,666 on Monday, August 15. FIRESTONE JAMES A also sold $467,895 worth of Xerox Corp (NYSE:XRX) shares.
About 8.52M shares traded hands or 14.82% up from the average. Xerox Corp (NYSE:XRX) has declined 3.10% since April 25, 2016 and is downtrending. It has underperformed by 9.11% the S&P500.
Xerox Corporation is engaged in imaging, business process, analytics, automation and user-centric insights. The company has a market cap of $9.75 billion. The Company’s divisions include Services, Document Technology and Other. It has a 15.68 P/E ratio. The Company’s Services segment comprises two types of service offerings: Business Process Outsourcing and Document Outsourcing (DO).
According to Zacks Investment Research, “Xerox is the world’s leading enterprise for business process and document management. Its technology, expertise and services enable workplaces – from small businesses to large global enterprises – to simplify the way work gets done so they operate more effectively and focus more on what matters most: their real business. Headquartered in Norwalk, Conn., Xerox offers business process outsourcing and IT outsourcing services, including data processing, healthcare solutions, HR benefits management, finance support, transportation solutions, and customer relationship management services for commercial and government organizations worldwide. The company also provides extensive leading-edge document technology, services, software and genuine Xerox supplies for graphic communication and office printing environments of any size.”
Analysts await Xerox Corp (NYSE:XRX) to report earnings on February, 3. They expect $0.33 earnings per share, up 3.13% or $0.01 from last year’s $0.32 per share. XRX’s profit will be $340.12M for 7.17 P/E if the $0.33 EPS becomes a reality. After $0.27 actual earnings per share reported by Xerox Corp for the previous quarter, Wall Street now forecasts 22.22% EPS growth.
More important recent Xerox Corp (NYSE:XRX) news were published by: Streetinsider.com which released: “Form 4 XEROX CORP For: Nov 23 Filed by: VARON LESLIE F” on November 28, 2016, also Nasdaq.com published article titled: “Commit To Buy Xerox Corp At $7, Earn 8% Using Options”, Businesswire.com published: “INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Xerox ..” on November 28, 2016. More interesting news about Xerox Corp (NYSE:XRX) was released by: Bloomberg.com and their article: “Xerox Overcharged Student Debtors, State Prosecutor Says” with publication date: November 23, 2016.
Xerox Corporation, incorporated on April 18, 1906, is engaged in imaging, business process, analytics, automation and user-centric insights. The Company’s divisions include Services, Document Technology and Other. Other segment includes paper sales in its developing market countries, wide-format systems, licensing revenue, global imaging systems network integration solutions and non-allocated corporate items, including other expenses and net. The Firm offers its services in over 180 countries. The Company’s clients include small and midsize businesses (SMBs), graphic communications companies, governmental entities, educational institutions and corporate accounts. The industry business groups include commercial healthcare, which serves healthcare payer and pharma, and healthcare well-known provider solutions; commercial industries, which include communications and media, high tech and software, banking and capital markets, insurance, manufacturing, automotive, travel and leisure, food and beverage, transportation and logistics; public sector, which provides services, including services that focused on transportation-related entities, as well as its portfolio of business process outsourcing (BPO) solutions to various governmental entities, and government healthcare, which provides administrative and care management solutions to state Medicaid programs and the United States Government healthcare programs. It provides a range of solutions to over 30 states.
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