Xerox Corp EVP Sells $351,804 in Stock (XRX)

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Xerox Corp (NYSE:XRX) EVP Lima Armando Zagalo De unloaded 29,317 shares of Xerox Corp stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $12.00, for a total value of $351,804.00. Following the sale, the executive vice president now directly owns 226,118 shares in the company, valued at approximately $2,713,416. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

A number of research firms have recently commented on XRX. Analysts at Susquehanna initiated coverage on shares of Xerox Corp in a research note on Thursday, April 24th. They set a “positive” rating and a $14.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Xerox Corp in a research note on Wednesday, April 23rd. They now have a $12.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Xerox Corp from $9.00 to $11.00 in a research note on Wednesday, April 23rd. They now have an “underweight” rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Xerox Corp presently has an average rating of “Hold” and an average price target of $12.33.

Shares of Xerox Corp (NYSE:XRX) traded down 0.59% during mid-day trading on Friday, hitting $11.85. 3,480,570 shares of the company’s stock traded hands. Xerox Corp has a 1-year low of $8.63 and a 1-year high of $12.65. The stock has a 50-day moving average of $11.5 and a 200-day moving average of $11.19. The company has a market cap of $13.833 billion and a price-to-earnings ratio of 13.10. Xerox Corp also was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 15,882,515 shares, a growth of 22.9% from the March 31st total of 12,918,395 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily volume of 10,134,748 shares, the days-to-cover ratio is presently 1.6 days.

Xerox Corp (NYSE:XRX) last announced its earnings results on Tuesday, April 22nd. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.24 by $0.03. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts expect that Xerox Corp will post $1.10 EPS for the current fiscal year.

Xerox Corporation provides services and technology to enable its customers from small businesses to large global enterprises to focus on their core business.

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