Xerox Sees Unusually Large Options Volume (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRXGet Free Report) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 1,689 put options on the company. This is an increase of 1,369% compared to the average volume of 115 put options.

Wall Street Analyst Weigh In

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

Check Out Our Latest Analysis on XRX

Institutional Investors Weigh In On Xerox

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Xerox by 10.2% in the 3rd quarter. Vanguard Group Inc. now owns 15,791,263 shares of the information technology services provider’s stock worth $247,765,000 after buying an additional 1,464,851 shares in the last quarter. Caxton Associates LP lifted its stake in shares of Xerox by 277.8% in the fourth quarter. Caxton Associates LP now owns 191,860 shares of the information technology services provider’s stock worth $3,517,000 after acquiring an additional 141,079 shares in the last quarter. American Century Companies Inc. boosted its holdings in Xerox by 520.9% in the third quarter. American Century Companies Inc. now owns 378,129 shares of the information technology services provider’s stock valued at $5,933,000 after purchasing an additional 317,233 shares during the last quarter. Public Sector Pension Investment Board acquired a new stake in Xerox during the 3rd quarter valued at approximately $2,194,000. Finally, Franklin Resources Inc. increased its holdings in Xerox by 127.3% during the 4th quarter. Franklin Resources Inc. now owns 132,811 shares of the information technology services provider’s stock worth $2,434,000 after purchasing an additional 74,382 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Stock Performance

Xerox stock opened at $10.51 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.37 and a quick ratio of 1.07. Xerox has a 12 month low of $10.28 and a 12 month high of $19.78. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -6.69 and a beta of 1.58. The stock’s 50-day moving average is $13.26 and its 200-day moving average is $15.86.

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

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.51%. The ex-dividend date of this dividend is Friday, June 28th. Xerox’s dividend payout ratio is presently -63.69%.

About Xerox

(Get Free Report)

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.

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