Xerox Corp (NYSE:XRX) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 6,923,800 shares, a drop of 9.2% from the June 15th total of 7,628,800 shares. Currently, 3.1% of the shares of the stock are sold short. Based on an average daily volume of 2,150,000 shares, the short-interest ratio is currently 3.2 days.

Several large investors have recently modified their holdings of the company. First Hawaiian Bank grew its holdings in Xerox by 534.9% during the first quarter. First Hawaiian Bank now owns 3,822 shares of the information technology services provider’s stock valued at $122,000 after purchasing an additional 3,220 shares during the period. World Asset Management Inc grew its holdings in Xerox by 18.3% during the first quarter. World Asset Management Inc now owns 17,059 shares of the information technology services provider’s stock valued at $546,000 after purchasing an additional 2,641 shares during the period. Norges Bank acquired a new position in Xerox during the fourth quarter valued at approximately $39,355,000. Exane Derivatives acquired a new position in Xerox during the first quarter valued at approximately $3,833,000. Finally, Tyers Asset Management LLC grew its holdings in Xerox by 267.1% during the first quarter. Tyers Asset Management LLC now owns 72,268 shares of the information technology services provider’s stock valued at $2,311,000 after purchasing an additional 52,584 shares during the period. Institutional investors own 87.11% of the company’s stock.

Shares of NYSE XRX opened at $33.83 on Monday. Xerox has a 1-year low of $18.58 and a 1-year high of $36.58. The company has a market capitalization of $7.60 billion, a P/E ratio of 9.78 and a beta of 1.71. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.18 and a current ratio of 1.47. The business has a 50-day moving average of $35.12.

Xerox (NYSE:XRX) last announced its earnings results on Thursday, April 25th. The information technology services provider reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. Xerox had a net margin of 4.91% and a return on equity of 18.02%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was down 9.4% on a year-over-year basis. As a group, research analysts expect that Xerox will post 3.89 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Thursday, June 27th. Xerox’s dividend payout ratio is 28.90%.

A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Zymeworks from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Saturday, April 13th. Credit Suisse Group boosted their target price on shares of Delta Air Lines from $37.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $36.00.

About Xerox

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.

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