Investors Buy Large Volume of Xerox Put Options (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) saw unusually large options trading on Wednesday. Traders acquired 1,689 put options on the company. This is an increase of approximately 1,369% compared to the typical volume of 115 put options.

Wall Street Analyst Weigh In

A number of brokerages recently commented on XRX. StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on Xerox from $16.00 to $18.00 and gave the stock an “underweight” rating in a research report on Friday, January 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of XRX. American International Group Inc. boosted its stake in shares of Xerox by 0.9% during the fourth quarter. American International Group Inc. now owns 63,494 shares of the information technology services provider’s stock valued at $1,164,000 after purchasing an additional 571 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Xerox by 1.3% during the fourth quarter. SummerHaven Investment Management LLC now owns 45,742 shares of the information technology services provider’s stock valued at $838,000 after purchasing an additional 597 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of Xerox by 1.0% during the fourth quarter. Yousif Capital Management LLC now owns 64,642 shares of the information technology services provider’s stock valued at $1,185,000 after purchasing an additional 615 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake 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 valued at $41,000 after purchasing an additional 630 shares in the last quarter. Finally, Arden Trust Co boosted its stake in shares of Xerox by 1.8% during the fourth quarter. Arden Trust Co now owns 36,561 shares of the information technology services provider’s stock valued at $670,000 after purchasing an additional 661 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Xerox Stock Down 0.1 %

Shares of NYSE XRX opened at $16.19 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.91 and a current ratio of 1.14. Xerox has a 52 week low of $12.06 and a 52 week high of $19.78. The stock has a market capitalization of $2.01 billion, a P/E ratio of -80.95 and a beta of 1.56. The stock’s fifty day moving average is $17.69 and its 200 day moving average is $16.29.

Xerox (NYSE:XRX) last released its earnings results on Thursday, January 25th. The information technology services provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.09). Xerox had a net margin of 0.01% and a return on equity of 9.41%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. The business’s revenue was down 8.8% on a year-over-year basis. Sell-side analysts forecast that Xerox will post 2.27 earnings per share for the current fiscal year.

Xerox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date of this dividend is Wednesday, March 27th. Xerox’s dividend payout ratio is presently -500.00%.

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.