Xerox Target of Unusually High Options Trading (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) saw some unusual options trading activity on Wednesday. Investors purchased 1,689 put options on the stock. This is an increase of 1,369% compared to the typical daily volume of 115 put options.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $9.50.

Xerox Price Performance

Shares of NYSE XRX opened at $5.44 on Friday. The firm has a market capitalization of $684.22 million, a P/E ratio of -0.51 and a beta of 1.75. Xerox has a one year low of $3.45 and a one year high of $14.81. The company’s fifty day moving average is $4.83 and its two-hundred day moving average is $7.21. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11.

Xerox (NYSE:XRX) last issued its earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%. The business’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. Analysts forecast that Xerox will post 1.07 EPS for the current fiscal year.

Xerox Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were given a $0.125 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.50 annualized dividend and a dividend yield of 9.19%. Xerox’s dividend payout ratio is presently -4.74%.

Institutional Investors Weigh In On Xerox

Several institutional investors and hedge funds have recently made changes to their positions in the business. Yousif Capital Management LLC boosted its position in shares of Xerox by 2.8% in the 4th quarter. Yousif Capital Management LLC now owns 53,816 shares of the information technology services provider’s stock worth $454,000 after buying an additional 1,486 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Xerox by 1.9% in the 4th quarter. Franklin Resources Inc. now owns 95,012 shares of the information technology services provider’s stock worth $801,000 after buying an additional 1,733 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Xerox by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,209 shares of the information technology services provider’s stock worth $558,000 after buying an additional 2,320 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Xerox by 3.0% in the 4th quarter. Russell Investments Group Ltd. now owns 87,466 shares of the information technology services provider’s stock worth $737,000 after buying an additional 2,534 shares in the last quarter. Finally, Picton Mahoney Asset Management boosted its position in shares of Xerox by 330.5% in the 4th quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider’s stock worth $31,000 after buying an additional 2,885 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

About Xerox

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.