Xerox Sees Unusually High Options Volume (NYSE:XRX)

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

Xerox Trading Up 1.7 %

NYSE XRX opened at $10.56 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.34. Xerox has a twelve month low of $9.51 and a twelve month high of $19.78. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -6.73 and a beta of 1.57. The business’s fifty day moving average is $10.68 and its 200 day moving average is $13.39.

Xerox (NYSE:XRX) last announced its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 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 company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the firm posted $0.44 earnings per share. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year. As a group, sell-side analysts expect that Xerox will post 1.79 EPS for the current fiscal year.

Xerox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.47%. Xerox’s payout ratio is presently -63.69%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Xerox

Institutional investors have recently bought and sold shares of the company. CWM LLC boosted its position in Xerox by 155.5% during the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 1,378 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Xerox during the first quarter worth about $45,000. TFO Wealth Partners LLC boosted its holdings in shares of 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 period. nVerses Capital LLC purchased a new stake in shares of Xerox during the second quarter worth about $78,000. Finally, Plato Investment Management Ltd lifted its holdings in Xerox by 45.0% in the second quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock worth $109,000 after buying an additional 2,899 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

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.