Xerox Sees Unusually Large Options Volume (NYSE:XRX)

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

Xerox Trading Up 0.5 %

Shares of XRX opened at $12.59 on Thursday. The company has a market capitalization of $1.56 billion, a P/E ratio of -8.02 and a beta of 1.63. Xerox has a one year low of $12.06 and a one year high of $19.78. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.07 and a current ratio of 1.37. The stock has a 50-day moving average price of $13.91 and a 200 day moving average price of $16.29.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.29). Xerox had a negative net margin of 2.74% and a positive return on equity of 7.77%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. Sell-side analysts forecast that Xerox will post 2.05 EPS for the current fiscal year.

Xerox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.94%. The ex-dividend date is Friday, June 28th. Xerox’s dividend payout ratio is presently -63.69%.

Analyst Upgrades and Downgrades

XRX has been the subject of several analyst reports. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. JPMorgan Chase & Co. decreased their target price on Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Wednesday, April 24th.

Institutional Trading of Xerox

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC acquired a new stake in Xerox in the 3rd quarter valued at approximately $387,000. UBS Group AG boosted its stake in shares of Xerox by 1.1% during the 3rd quarter. UBS Group AG now owns 146,043 shares of the information technology services provider’s stock worth $2,291,000 after acquiring an additional 1,635 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Xerox by 16.0% during the 3rd quarter. Deutsche Bank AG now owns 55,732 shares of the information technology services provider’s stock worth $874,000 after acquiring an additional 7,698 shares in the last quarter. Invesco Ltd. boosted its position in shares of Xerox by 65.2% in the third quarter. Invesco Ltd. now owns 1,281,942 shares of the information technology services provider’s stock worth $20,114,000 after buying an additional 506,117 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Xerox by 56.9% in the third quarter. Federated Hermes Inc. now owns 189,298 shares of the information technology services provider’s stock worth $2,970,000 after buying an additional 68,632 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.