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

Xerox Holdings Co. (NYSE:XRX) saw some unusual options trading on Wednesday. Stock investors purchased 1,689 put options on the stock. This represents an increase of approximately 1,369% compared to the typical daily volume of 115 put options.

Xerox Trading Up 1.7 %

Shares of XRX stock opened at $10.32 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $1.28 billion, a P/E ratio of -6.57 and a beta of 1.57. Xerox has a twelve month low of $9.51 and a twelve month high of $19.78. The stock’s fifty day simple moving average is $10.44 and its 200 day simple moving average is $12.89.

Xerox (NYSE:XRX) last announced its quarterly 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 business 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 company’s revenue was down 10.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share. As a group, sell-side analysts predict that Xerox will post 1.79 EPS for the current fiscal year.

Xerox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 9.69%. Xerox’s payout ratio is -63.69%.

Analysts Set New Price Targets

Several analysts recently weighed in on XRX shares. Loop Capital dropped their price objective on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Finally, Citigroup initiated coverage on shares of Xerox in a report on Friday, June 28th. They set a “sell” rating and a $11.00 price target on the stock. 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.com, the company currently has a consensus rating of “Hold” and an average price target of $12.75.

Institutional Investors Weigh In On Xerox

Several large investors have recently modified their holdings of XRX. Cubist Systematic Strategies LLC grew its holdings in Xerox by 21.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 49,881 shares of the information technology services provider’s stock worth $580,000 after acquiring an additional 8,736 shares during the period. Sanctuary Advisors LLC bought a new stake in Xerox in the second quarter worth approximately $704,000. Point72 Asset Management L.P. acquired a new position in Xerox in the second quarter valued at approximately $320,000. Algert Global LLC acquired a new stake in shares of Xerox during the 2nd quarter worth approximately $138,000. Finally, Susquehanna Fundamental Investments LLC increased its stake in shares of Xerox by 108.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 140,809 shares of the information technology services provider’s stock valued at $1,636,000 after acquiring an additional 73,413 shares in the last quarter. 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.