Insider Selling: Ursula M. Burns Unloads 300,000 Shares of Xerox Corp Stock (XRX)

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Xerox Corp (NYSE:XRX) CEO Ursula M. Burns unloaded 300,000 shares of Xerox Corp stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $12.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,002,886 shares of the company’s stock, valued at approximately $12,034,632. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.33.

Shares of Xerox Corp (NYSE:XRX) traded up 0.50% during mid-day trading on Thursday, hitting $12.15. 3,614,460 shares of the company’s stock traded hands. Xerox Corp has a 52 week low of $8.30 and a 52 week high of $12.65. The stock’s 50-day moving average is $11. and its 200-day moving average is $11.14. The company has a market cap of $14.183 billion and a price-to-earnings ratio of 13.30. Xerox Corp also was the recipient of a large growth in short interest during 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. Approximately 1.4% of the shares of the stock are sold short. Based on an average trading 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 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter 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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