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

Xerox Holdings Co. (NYSE:XRX) was the target of unusually large options trading on Wednesday. Stock investors purchased 1,689 put options on the company. This is an increase of 1,369% compared to the average daily volume of 115 put options.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its position in Xerox by 33.2% in the 3rd quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock valued at $176,140,000 after buying an additional 4,228,806 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in Xerox by 282.4% in the second quarter. Mizuho Markets Americas LLC now owns 353,682 shares of the information technology services provider’s stock valued at $4,110,000 after acquiring an additional 261,180 shares during the last quarter. Sound Income Strategies LLC increased its position in Xerox by 27.9% in the third quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after purchasing an additional 225,617 shares during the period. Barclays PLC raised its holdings in Xerox by 55.5% during the 3rd quarter. Barclays PLC now owns 469,106 shares of the information technology services provider’s stock worth $4,869,000 after purchasing an additional 167,500 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Xerox during the 3rd quarter valued at about $1,626,000. Institutional investors own 85.36% of the company’s stock.

Xerox Trading Down 0.7 %

XRX stock opened at $9.17 on Friday. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.26 and a quick ratio of 0.95. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -0.83 and a beta of 1.59. The business has a fifty day moving average price of $8.95 and a 200 day moving average price of $10.35. Xerox has a fifty-two week low of $8.02 and a fifty-two week high of $19.78.

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

Xerox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 10.91%. Xerox’s dividend payout ratio (DPR) is currently -9.06%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. cut their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Morgan Stanley cut their price objective on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.