Xerox Sees Unusually High Options Volume (NYSE:XRX)

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

Institutional Trading of Xerox

A number of institutional investors have recently modified their holdings of the company. Gladius Capital Management LP bought a new stake in Xerox in the third quarter valued at approximately $29,000. US Bancorp DE lifted its stake in Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after purchasing an additional 1,888 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Xerox by 938.0% in the 3rd quarter. International Assets Investment Management LLC now owns 8,304 shares of the information technology services provider’s stock valued at $800,000 after acquiring an additional 7,504 shares during the last quarter. KBC Group NV lifted its stake in shares of Xerox by 84.5% in the 4th quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock valued at $78,000 after acquiring an additional 4,224 shares during the last quarter. Finally, CWM LLC raised its position in Xerox by 381.3% during the 3rd quarter. CWM LLC now owns 10,897 shares of the information technology services provider’s stock worth $113,000 after purchasing an additional 8,633 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

Xerox Stock Down 1.2 %

NYSE:XRX opened at $9.38 on Thursday. Xerox has a 12-month low of $8.02 and a 12-month high of $19.78. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of $1.17 billion, a P/E ratio of -0.85 and a beta of 1.59. The stock’s fifty day simple moving average is $8.84 and its 200-day simple moving average is $9.80.

Xerox (NYSE:XRX) last posted its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.26). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.63 billion. Xerox had a positive return on equity of 6.60% and a negative net margin of 21.31%. The business’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 earnings per share. Equities research analysts expect that Xerox will post 1.12 earnings per share for the current year.

Xerox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.66%. Xerox’s dividend payout ratio (DPR) is -9.06%.

Analysts Set New Price Targets

XRX has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley reduced their price target on Xerox from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat.com, the company 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.