Investors Purchase High Volume of Xerox Put Options (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) saw unusually large options trading activity on Wednesday. Traders acquired 1,689 put options on the company. This represents an increase of 1,369% compared to the average daily volume of 115 put options.

Xerox Price Performance

NYSE:XRX opened at $8.40 on Thursday. Xerox has a 52 week low of $8.02 and a 52 week high of $19.48. The stock’s fifty day moving average is $8.89 and its two-hundred day moving average is $9.63. The company has a market capitalization of $1.04 billion, a P/E ratio of -0.78 and a beta of 1.59. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61.

Analysts Set New Price Targets

Several analysts recently issued reports on XRX shares. StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Finally, Morgan Stanley reduced their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $9.50.

Institutional Investors Weigh In On Xerox

A number of large investors have recently modified their holdings of XRX. Gladius Capital Management LP acquired a new stake in Xerox in the third quarter valued at $29,000. US Bancorp DE raised its position in shares of Xerox by 42.3% during the 3rd quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after acquiring an additional 1,888 shares in the last quarter. KBC Group NV lifted its stake in Xerox by 84.5% during the fourth quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock worth $78,000 after purchasing an additional 4,224 shares during the last quarter. Vest Financial LLC acquired a new position in Xerox in the fourth quarter valued at approximately $97,000. Finally, Prism Advisors Inc. purchased a new position in Xerox in the fourth quarter valued at approximately $103,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.