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

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

Institutional Investors Weigh In On Xerox

Several large investors have recently modified their holdings of the stock. Yousif Capital Management LLC grew its position in Xerox by 2.8% during the 4th quarter. Yousif Capital Management LLC now owns 53,816 shares of the information technology services provider’s stock worth $454,000 after acquiring an additional 1,486 shares during the last quarter. Franklin Resources Inc. grew its position in Xerox by 1.9% during the 4th quarter. Franklin Resources Inc. now owns 95,012 shares of the information technology services provider’s stock worth $801,000 after acquiring an additional 1,733 shares during the last quarter. US Bancorp DE grew its position in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Xerox by 3.6% during 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 acquiring an additional 2,320 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Xerox by 3.0% during the 4th quarter. Russell Investments Group Ltd. now owns 87,466 shares of the information technology services provider’s stock worth $737,000 after acquiring an additional 2,534 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on XRX. JPMorgan Chase & Co. lowered their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Morgan Stanley lowered their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $9.50.

Xerox Trading Down 1.5 %

XRX stock opened at $8.03 on Thursday. Xerox has a 1-year low of $7.77 and a 1-year high of $19.48. The firm has a market cap of $998.69 million, a P/E ratio of -0.75 and a beta of 1.59. The business’s 50 day moving average is $8.71 and its 200-day moving average is $9.42. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61.

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.