Xerox Sees Unusually Large Options Volume (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) was the target of some unusual options trading on Wednesday. Traders bought 1,689 put options on the stock. This is an increase of 1,369% compared to the average daily volume of 115 put options.

Xerox Price Performance

Shares of NYSE XRX opened at $10.01 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -6.38 and a beta of 1.58. The company’s 50-day moving average price is $12.10 and its 200 day moving average price is $15.00. Xerox has a 52 week low of $9.51 and a 52 week high of $19.78.

Xerox (NYSE:XRX) last issued its quarterly earnings data on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period last year, the business earned $0.44 earnings per share. As a group, research analysts forecast that Xerox will post 1.88 earnings per share for the current fiscal year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.99%. The ex-dividend date of this dividend is Monday, September 30th. Xerox’s dividend payout ratio is presently -63.69%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 24th. Citigroup assumed coverage on shares of Xerox in a research report on Friday, June 28th. They set a “sell” rating and a $11.00 target price on the stock. Finally, StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a research note on Thursday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XRX. GAMMA Investing LLC acquired a new position in shares of Xerox in the fourth quarter valued at approximately $25,000. CWM LLC raised its holdings in Xerox by 155.5% in the 2nd quarter. CWM LLC now owns 2,264 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 1,378 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Xerox by 38.7% during the fourth quarter. Hexagon Capital Partners LLC now owns 2,257 shares of the information technology services provider’s stock worth $41,000 after purchasing an additional 630 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Xerox in the first quarter valued at $45,000. Finally, TFO Wealth Partners LLC increased 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 purchasing an additional 3,314 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

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.