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

Xerox Holdings Co. (NYSE:XRX) saw unusually large options trading on Monday. Stock investors acquired 3,482 call options on the stock. This represents an increase of 86% compared to the average daily volume of 1,870 call options.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Wednesday, April 24th. StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Finally, Citigroup initiated coverage on Xerox in a research report on Friday. They set a “sell” rating and a $11.00 price target for the company.

Xerox Trading Down 0.4 %

Shares of XRX traded down $0.05 during midday trading on Monday, hitting $11.57. 761,713 shares of the stock were exchanged, compared to its average volume of 2,167,623. Xerox has a 52-week low of $11.50 and a 52-week high of $19.78. The stock has a fifty day simple moving average of $13.73 and a 200 day simple moving average of $16.24. The firm has a market cap of $1.44 billion, a P/E ratio of -7.43 and a beta of 1.58. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.07 and a current ratio of 1.37.

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

Xerox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.25 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a yield of 8.64%. Xerox’s dividend payout ratio (DPR) is presently -63.69%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new stake in Xerox in the fourth quarter valued at $25,000. GAMMA Investing LLC acquired a new stake in Xerox in the fourth quarter valued at $25,000. Hexagon Capital Partners LLC raised its stake in Xerox by 38.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 2,257 shares of the information technology services provider’s stock valued at $41,000 after buying an additional 630 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Xerox in the first quarter valued at $45,000. Finally, TFO Wealth Partners LLC raised its stake in Xerox by 30,127.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,325 shares of the information technology services provider’s stock valued at $61,000 after buying an additional 3,314 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

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.