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

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

Xerox Price Performance

Shares of XRX stock opened at $10.51 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.37 and a debt-to-equity ratio of 1.34. Xerox has a 12-month low of $10.28 and a 12-month high of $19.78. The firm has a fifty day moving average of $13.26 and a 200-day moving average of $15.86. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -6.69 and a beta of 1.58.

Xerox (NYSE:XRX) last announced its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.29). Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company earned $0.49 earnings per share. The firm’s revenue was down 12.8% compared to the same quarter last year. On average, equities research analysts forecast that Xerox will post 2.05 earnings per share for the current year.

Xerox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.51%. The ex-dividend date of this dividend is Friday, June 28th. Xerox’s dividend payout ratio (DPR) is presently -63.69%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on XRX. JPMorgan Chase & Co. reduced their price target on Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 24th. StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Citigroup assumed coverage on Xerox in a research note on Friday, June 28th. They issued a “sell” rating and a $11.00 price target for the company.

Institutional Investors Weigh In On Xerox

A number of hedge funds and other institutional investors have recently made changes to their positions in XRX. Vanguard Group Inc. increased its holdings in Xerox by 10.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock worth $247,765,000 after purchasing an additional 1,464,851 shares in the last quarter. Bridgeway Capital Management LLC acquired a new stake in Xerox in the 4th quarter valued at approximately $17,470,000. Intrinsic Edge Capital Management LLC bought a new stake in Xerox in the 4th quarter valued at approximately $14,832,000. Norges Bank acquired a new position in Xerox during the 4th quarter worth approximately $9,435,000. Finally, SG Capital Management LLC bought a new position in shares of Xerox during the 1st quarter worth approximately $8,466,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.