Xerox Sees Unusually High Options Volume (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) was the target of unusually large options trading activity on Wednesday. Stock investors bought 1,689 put options on the company. This represents an increase of 1,369% compared to the typical daily volume of 115 put options.

Xerox Stock Performance

Shares of XRX opened at $2.25 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The firm has a market cap of $288.09 million, a PE ratio of -0.21 and a beta of 1.72. Xerox has a 12 month low of $2.10 and a 12 month high of $9.91. The stock has a fifty day moving average price of $2.59 and a 200-day moving average price of $3.51.

Xerox (NYSE:XRX) last announced its earnings results on Thursday, October 30th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, beating 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%.During the same quarter last year, the company posted $0.25 EPS. The firm’s quarterly revenue was up 28.3% on a year-over-year basis. Equities research analysts predict that Xerox will post 1.07 earnings per share for the current fiscal year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, December 31st. Xerox’s dividend payout ratio (DPR) is presently -1.28%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Gabelli Funds LLC raised its holdings in shares of Xerox by 4.5% in the second quarter. Gabelli Funds LLC now owns 58,000 shares of the information technology services provider’s stock worth $306,000 after buying an additional 2,500 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Xerox by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,047 shares of the information technology services provider’s stock valued at $333,000 after buying an additional 2,838 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Xerox by 1.9% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 164,566 shares of the information technology services provider’s stock valued at $868,000 after acquiring an additional 3,138 shares during the period. SummerHaven Investment Management LLC raised its stake in Xerox by 4.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 75,528 shares of the information technology services provider’s stock worth $398,000 after acquiring an additional 3,399 shares during the last quarter. Finally, Cidel Asset Management Inc. lifted its position in Xerox by 34.3% during the 3rd quarter. Cidel Asset Management Inc. now owns 14,505 shares of the information technology services provider’s stock worth $55,000 after acquiring an additional 3,701 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on XRX. Citigroup dropped their price objective on Xerox from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Zacks Research cut Xerox from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Xerox currently has an average rating of “Reduce” and a consensus target price of $3.50.

Xerox Company Profile

Xerox Holdings Corporation (NYSE: XRX) is a global provider of document management technology and services. The company designs and manufactures a broad range of multifunction printers, production printers, digital presses and related consumables. In addition to its hardware offerings, Xerox delivers software and workflow automation solutions, managed print services and cloud-based document platforms that help organizations optimize their information-intensive processes.

Founded in 1906 as The Haloid Photographic Company, Xerox pioneered xerographic imaging in the late 1940s, launching the first plain-paper copier in 1959.