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

Xerox Holdings Co. (NYSE:XRX) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 1,689 put options on the stock. This is an increase of approximately 1,369% compared to the typical volume of 115 put options.

Institutional Trading of Xerox

Several institutional investors have recently modified their holdings of the stock. Prism Advisors Inc. acquired a new stake in shares of Xerox in the fourth quarter valued at about $103,000. KBC Group NV boosted its position in Xerox by 84.5% during the fourth quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock worth $78,000 after acquiring an additional 4,224 shares during the last quarter. Sound Income Strategies LLC boosted its position in Xerox by 6.7% during the fourth quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider’s stock worth $9,296,000 after acquiring an additional 69,182 shares during the last quarter. Tidal Investments LLC boosted its position in Xerox by 26.1% during the third quarter. Tidal Investments LLC now owns 68,359 shares of the information technology services provider’s stock worth $710,000 after acquiring an additional 14,164 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Xerox by 2.3% during the third quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock worth $29,161,000 after acquiring an additional 62,947 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. StockNews.com cut shares of Xerox from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Morgan Stanley reduced their target price on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $9.50.

Xerox Stock Up 4.9 %

XRX opened at $9.84 on Friday. Xerox has a fifty-two week low of $8.02 and a fifty-two week high of $19.78. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. The company has a fifty day moving average of $8.87 and a two-hundred day moving average of $9.80. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -0.89 and a beta of 1.59.

Xerox (NYSE:XRX) last announced its earnings results on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.26). Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business earned $0.46 EPS. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. On average, research analysts expect that Xerox will post 1.12 earnings per share for the current year.

Xerox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 10.16%. Xerox’s dividend payout ratio (DPR) is -9.06%.

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.