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

Xerox Holdings Co. (NYSE:XRX) saw some unusual options trading activity on Wednesday. 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 1.7 %

Shares of Xerox stock opened at $10.56 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.49 and a quick ratio of 1.13. The firm has a fifty day moving average price of $10.68 and a 200 day moving average price of $13.39. Xerox has a 1 year low of $9.51 and a 1 year high of $19.78. The stock has a market cap of $1.31 billion, a PE ratio of -6.73 and a beta of 1.57.

Xerox (NYSE:XRX) last announced its 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 company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 EPS. Equities research analysts predict that Xerox will post 1.79 earnings per share for the current year.

Xerox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 9.47%. Xerox’s payout ratio is -63.69%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Citigroup started coverage on shares of Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 price objective for the company. Finally, Loop Capital cut their price objective on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. According to MarketBeat, Xerox presently has an average rating of “Hold” and an average target price of $12.75.

Institutional Investors Weigh In On Xerox

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Xerox by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock worth $292,937,000 after buying an additional 190,034 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Xerox by 10.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,587,041 shares of the information technology services provider’s stock valued at $29,090,000 after purchasing an additional 153,144 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Xerox by 1.5% in the 4th quarter. Allianz Asset Management GmbH now owns 1,044,971 shares of the information technology services provider’s stock valued at $19,154,000 after purchasing an additional 15,408 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in Xerox by 3.5% during the 1st quarter. Bridgeway Capital Management LLC now owns 986,682 shares of the information technology services provider’s stock valued at $17,662,000 after acquiring an additional 33,590 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new position in Xerox during the 4th quarter valued at about $14,832,000. 85.36% of the stock is 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.