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

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on XRX shares. Citigroup cut their target price on Xerox from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Zacks Research upgraded shares of Xerox from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 3rd. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XRX. PNC Financial Services Group Inc. raised its holdings in shares of Xerox by 110.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 2,911 shares in the last quarter. Spire Wealth Management purchased a new position in Xerox during the second quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Xerox in the second quarter worth approximately $34,000. Socha Financial Group LLC purchased a new stake in Xerox during the third quarter worth $43,000. Finally, Boothbay Fund Management LLC bought a new stake in Xerox during the 3rd quarter valued at $43,000. 85.36% of the stock is currently owned by institutional investors.

Xerox Stock Performance

Shares of NYSE:XRX opened at $2.66 on Thursday. The firm’s 50 day simple moving average is $3.28 and its 200-day simple moving average is $4.27. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. Xerox has a one year low of $2.32 and a one year high of $9.91. The firm has a market cap of $340.59 million, a PE ratio of -0.25 and a beta of 1.80.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Thursday, October 30th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.38. Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%.The business’s revenue was up 28.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 EPS. Xerox has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Xerox will post 1.07 EPS for the current year.

Xerox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, December 31st. Xerox’s payout ratio is presently -1.28%.

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.