Xerox Sees Unusually High Options Volume (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) saw unusually large options trading activity on Wednesday. Traders purchased 27,535 call options on the company. This represents an increase of approximately 889% compared to the average daily volume of 2,784 call options.

Xerox stock opened at $17.79 on Thursday. The company has a quick ratio of 1.62, a current ratio of 1.92 and a debt-to-equity ratio of 0.68. Xerox has a 12-month low of $17.05 and a 12-month high of $26.96. The firm’s fifty day moving average is $21.62 and its 200 day moving average is $23.18. The company has a market capitalization of $3.18 billion, a PE ratio of 12.62 and a beta of 1.77.

Xerox (NYSE:XRX) last posted its earnings results on Tuesday, October 26th. The information technology services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.05. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.81 billion. Xerox had a net margin of 4.13% and a return on equity of 6.76%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 EPS. Sell-side analysts expect that Xerox will post 1.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 31st. Investors of record on Friday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, December 30th. This represents a $1.00 annualized dividend and a yield of 5.62%. Xerox’s payout ratio is currently 70.92%.

A number of research firms have recently issued reports on XRX. Morgan Stanley started coverage on shares of Xerox in a research note on Thursday, September 23rd. They set an “underweight” rating and a $17.00 target price for the company. Zacks Investment Research upgraded shares of Xerox from a “strong sell” rating to a “hold” rating and set a $24.00 target price for the company in a research report on Tuesday, August 24th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $47.60.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Loomis Sayles & Co. L P bought a new position in Xerox during the first quarter worth about $27,000. Vectors Research Management LLC raised its stake in Xerox by 60.6% in the first quarter. Vectors Research Management LLC now owns 1,325 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. West Branch Capital LLC purchased a new position in shares of Xerox during the second quarter worth approximately $34,000. BDO Wealth Advisors LLC purchased a new position in shares of Xerox during the first quarter worth approximately $38,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Xerox by 42.3% during the first quarter. Geneos Wealth Management Inc. now owns 2,013 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 598 shares in the last quarter. Institutional investors own 82.65% of the company’s stock.

About Xerox

Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers intelligent workplace services; and digital services that leverage its software capabilities in workflow automation, personalization and communication software, content management solutions, and digitization services.

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