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

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

Institutional Investors Weigh In On Xerox

A number of hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in Xerox by 6.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,607 shares of the information technology services provider’s stock valued at $17,850,000 after acquiring an additional 107,580 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Xerox by 3.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 513,131 shares of the information technology services provider’s stock valued at $5,326,000 after purchasing an additional 17,913 shares during the period. Verition Fund Management LLC acquired a new position in shares of Xerox during the third quarter valued at $625,000. Point72 Asset Management L.P. raised its stake in shares of Xerox by 39.2% during the third quarter. Point72 Asset Management L.P. now owns 38,312 shares of the information technology services provider’s stock valued at $398,000 after purchasing an additional 10,794 shares in the last quarter. Finally, Stifel Financial Corp grew its position in Xerox by 44.2% in the 3rd quarter. Stifel Financial Corp now owns 152,380 shares of the information technology services provider’s stock valued at $1,582,000 after buying an additional 46,708 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Xerox Stock Performance

Shares of XRX opened at $4.18 on Friday. The firm has a fifty day moving average of $6.94 and a 200-day moving average of $8.49. The company has a market cap of $523.67 million, a price-to-earnings ratio of -0.39 and a beta of 1.66. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. Xerox has a 1 year low of $4.03 and a 1 year high of $18.18.

Xerox Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 11.96%. The ex-dividend date of this dividend is Monday, March 31st. Xerox’s dividend payout ratio (DPR) is -4.66%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price 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.