Xerox Sees Unusually High Options Volume (NYSE:XRX)

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

Institutional Trading of Xerox

Institutional investors have recently bought and sold shares of the business. CWM LLC grew its stake in shares of Xerox by 155.5% during the second quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 1,378 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Xerox during the 1st quarter worth about $45,000. nVerses Capital LLC bought a new stake in shares of Xerox in the 2nd quarter valued at about $78,000. Plato Investment Management Ltd raised its position in shares of Xerox by 45.0% in the 2nd quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider’s stock valued at $109,000 after acquiring an additional 2,899 shares during the period. Finally, Innealta Capital LLC bought a new position in Xerox during the 2nd quarter worth approximately $115,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Stock Up 1.2 %

Shares of XRX opened at $10.48 on Thursday. The business’s fifty day moving average price is $10.40 and its two-hundred day moving average price is $12.40. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -9.98 and a beta of 1.57. Xerox has a 52 week low of $9.51 and a 52 week high of $19.78. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.49.

Xerox (NYSE:XRX) last posted its quarterly earnings results 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). The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. Xerox’s revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 EPS. On average, analysts predict that Xerox will post 1.79 earnings per share for the current year.

Xerox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid 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 9.54%. Xerox’s payout ratio is presently -95.24%.

Analyst Ratings Changes

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 research report on Thursday, September 5th. Loop Capital lowered their target price on 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 assumed coverage on shares of Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 price target on the stock. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Xerox currently has an average rating of “Hold” and an average target price of $12.75.

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.