Stock Traders Buy Large Volume of Put Options on Xerox (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) was the target of unusually large options trading on Wednesday. Stock investors acquired 1,689 put options on the stock. This represents an increase of 1,369% compared to the typical volume of 115 put options.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $9.50.

Xerox Trading Up 0.6 %

NYSE XRX opened at $6.22 on Friday. The firm has a market cap of $779.25 million, a PE ratio of -0.58 and a beta of 1.59. Xerox has a 52 week low of $6.07 and a 52 week high of $18.18. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The company has a 50 day moving average price of $8.36 and a 200 day moving average price of $9.22.

Xerox Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 8.04%. Xerox’s payout ratio is -4.66%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its stake in shares of Xerox by 33.2% during the third quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock worth $176,140,000 after acquiring an additional 4,228,806 shares during the last quarter. Vanguard Group Inc. boosted its stake in Xerox by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider’s stock worth $132,888,000 after purchasing an additional 199,598 shares in the last quarter. Geode Capital Management LLC grew its position in Xerox by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock worth $29,161,000 after purchasing an additional 62,947 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Xerox by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider’s stock valued at $15,276,000 after purchasing an additional 92,495 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Xerox by 5.9% in the fourth quarter. Invesco Ltd. now owns 1,706,086 shares of the information technology services provider’s stock worth $14,382,000 after buying an additional 94,779 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

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.