Xerox Sees Unusually High Options Volume (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 1,689 put options on the company. This represents an increase of 1,369% compared to the typical daily volume of 115 put options.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on XRX shares. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. JPMorgan Chase & Co. lowered their target price on shares of Xerox from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, April 24th.

Hedge Funds Weigh In On Xerox

Several institutional investors and hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in shares of Xerox in the 3rd quarter valued at approximately $387,000. UBS Group AG increased its stake in Xerox by 1.1% during the 3rd quarter. UBS Group AG now owns 146,043 shares of the information technology services provider’s stock worth $2,291,000 after buying an additional 1,635 shares during the period. Deutsche Bank AG increased its stake in Xerox by 16.0% during the 3rd quarter. Deutsche Bank AG now owns 55,732 shares of the information technology services provider’s stock worth $874,000 after buying an additional 7,698 shares during the period. Invesco Ltd. increased its stake in Xerox by 65.2% during the 3rd quarter. Invesco Ltd. now owns 1,281,942 shares of the information technology services provider’s stock worth $20,114,000 after buying an additional 506,117 shares during the period. Finally, Federated Hermes Inc. increased its stake in Xerox by 56.9% during the 3rd quarter. Federated Hermes Inc. now owns 189,298 shares of the information technology services provider’s stock worth $2,970,000 after buying an additional 68,632 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Xerox Trading Down 2.3 %

Shares of Xerox stock opened at $12.30 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.37 and a quick ratio of 1.07. The firm has a fifty day moving average price of $13.83 and a 200 day moving average price of $16.27. Xerox has a 1 year low of $12.06 and a 1 year high of $19.78. The stock has a market cap of $1.53 billion, a PE ratio of -7.83 and a beta of 1.63.

Xerox (NYSE:XRX) last issued its earnings results on Tuesday, April 23rd. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.29). Xerox had a positive return on equity of 7.77% and a negative net margin of 2.74%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the business earned $0.49 EPS. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. Equities research analysts predict that Xerox will post 2.05 earnings per share for the current year.

Xerox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 annualized dividend and a yield of 8.13%. Xerox’s payout ratio is -63.69%.

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.