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

Xerox Holdings Co. (NYSE:XRX) was the target of unusually large options trading on Wednesday. Stock traders bought 1,689 put options on the company. This represents an increase of 1,369% compared to the typical daily volume of 115 put options.

Xerox Price Performance

XRX opened at $10.30 on Friday. The stock has a market cap of $1.28 billion, a P/E ratio of -6.56 and a beta of 1.57. Xerox has a 12 month low of $9.51 and a 12 month high of $19.78. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.34. The company has a fifty day simple moving average of $10.44 and a 200 day simple moving average of $12.89.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.14). Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company earned $0.44 earnings per share. The firm’s revenue was down 10.0% compared to the same quarter last year. On average, research analysts expect that Xerox will post 1.79 EPS for the current year.

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.71%. The ex-dividend date of this dividend is Monday, September 30th. Xerox’s dividend payout ratio (DPR) is presently -63.69%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Loop Capital decreased their price objective on Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Finally, Citigroup began coverage on Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.75.

Institutional Investors Weigh In On Xerox

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its position in Xerox by 8.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 26,825 shares of the information technology services provider’s stock valued at $492,000 after buying an additional 2,162 shares during the last quarter. Norges Bank acquired a new stake in shares of Xerox in the fourth quarter valued at approximately $9,435,000. Franklin Resources Inc. lifted its position in shares of Xerox by 127.3% in the fourth quarter. Franklin Resources Inc. now owns 132,811 shares of the information technology services provider’s stock worth $2,434,000 after purchasing an additional 74,382 shares in the last quarter. TFO Wealth Partners LLC boosted its holdings in Xerox by 30,127.3% during the fourth quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock worth $61,000 after purchasing an additional 3,314 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new position in Xerox in the fourth quarter valued at $282,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.