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

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

Xerox Stock Performance

Shares of Xerox stock opened at $10.32 on Thursday. The company has a market capitalization of $1.28 billion, a PE ratio of -6.57 and a beta of 1.57. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.49. The company has a 50-day simple moving average of $10.44 and a two-hundred day simple moving average of $12.89. Xerox has a one year low of $9.51 and a one year high of $19.78.

Xerox (NYSE:XRX) last posted its quarterly earnings data on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.14). Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the company earned $0.44 EPS. The business’s revenue was down 10.0% compared to the same quarter last year. Research analysts expect that Xerox will post 1.79 EPS for the current fiscal year.

Xerox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 9.69%. Xerox’s dividend payout ratio is currently -63.69%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Loop Capital lowered their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research note 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 objective for the company. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Xerox currently has a consensus rating of “Hold” and an average target price of $12.75.

Institutional Investors Weigh In On Xerox

Large investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its position in Xerox by 8.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 26,825 shares of the information technology services provider’s stock worth $492,000 after purchasing an additional 2,162 shares in the last quarter. Norges Bank purchased a new stake in Xerox in the 4th quarter worth approximately $9,435,000. Franklin Resources Inc. boosted its position in Xerox by 127.3% in the 4th quarter. Franklin Resources Inc. now owns 132,811 shares of the information technology services provider’s stock worth $2,434,000 after purchasing an additional 74,382 shares in the last quarter. TFO Wealth Partners LLC boosted its position in Xerox by 30,127.3% in the 4th 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 in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in Xerox in the 4th quarter worth approximately $282,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

About Xerox

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.