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

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in XRX. Pacer Advisors Inc. boosted its stake in Xerox by 33.2% in the 3rd quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock worth $176,140,000 after purchasing an additional 4,228,806 shares during the period. SG Capital Management LLC bought a new position in Xerox in the 1st quarter worth about $8,466,000. Mizuho Markets Americas LLC boosted its position in shares of Xerox by 282.4% during the 2nd quarter. Mizuho Markets Americas LLC now owns 353,682 shares of the information technology services provider’s stock valued at $4,110,000 after acquiring an additional 261,180 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Xerox by 27.9% during the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock valued at $10,728,000 after acquiring an additional 225,617 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Xerox by 55.5% during the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock valued at $4,869,000 after acquiring an additional 167,500 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Xerox Trading Down 0.2 %

Shares of XRX opened at $9.06 on Thursday. The business has a 50-day moving average of $9.61 and a 200 day moving average of $11.08. Xerox has a fifty-two week low of $8.02 and a fifty-two week high of $19.78. The firm has a market cap of $1.13 billion, a P/E ratio of 8.82 and a beta of 1.59. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.26). Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the business posted $0.46 EPS. The company’s revenue was down 7.5% compared to the same quarter last year. As a group, research analysts forecast that Xerox will post 1.12 EPS for the current year.

Xerox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 11.04%. Xerox’s dividend payout ratio is currently -9.06%.

Wall Street Analysts Forecast Growth

XRX has been the subject of several research analyst reports. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Loop Capital decreased their target price on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Finally, Morgan Stanley decreased their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Xerox presently has an average rating of “Hold” and a consensus price target of $9.50.

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.