Xerox Sees Unusually High Options Volume (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) was the target of some unusual options trading on Wednesday. Traders bought 1,689 put options on the stock. This represents an increase of approximately 1,369% compared to the average volume of 115 put options.

Wall Street Analyst Weigh In

A number of analysts have issued reports on XRX shares. Zacks Research raised Xerox from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 3rd. Citigroup decreased their price objective on Xerox from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Monday, November 10th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $3.50.

Institutional Trading of Xerox

Several institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace LLP boosted its holdings in Xerox by 71.0% in the 2nd quarter. Marshall Wace LLP now owns 3,928,444 shares of the information technology services provider’s stock valued at $20,703,000 after purchasing an additional 1,630,999 shares during the period. Paradigm Capital Management Inc. NY raised its position in shares of Xerox by 2,392.4% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,246,200 shares of the information technology services provider’s stock worth $6,019,000 after buying an additional 1,196,200 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in Xerox during the third quarter valued at $4,333,000. Private Management Group Inc. purchased a new position in Xerox during the second quarter worth about $5,513,000. Finally, Nuveen LLC bought a new position in Xerox in the 1st quarter worth about $4,765,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Xerox Price Performance

Shares of NYSE XRX opened at $2.62 on Thursday. 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 has a fifty-two week low of $2.32 and a fifty-two week high of $9.91. The stock has a market cap of $335.46 million, a PE ratio of -0.24 and a beta of 1.73. The stock has a fifty day moving average of $3.04 and a 200-day moving average of $4.08.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Thursday, October 30th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.38. Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%.Xerox’s revenue was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. Equities research analysts anticipate that Xerox will post 1.07 earnings per share for the current year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.10 annualized dividend and a yield of 3.8%. Xerox’s payout ratio is currently -1.28%.

Xerox Company Profile

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.