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

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

Institutional Investors Weigh In On Xerox

Several hedge funds have recently modified their holdings of the company. GAMMA Investing LLC bought a new position in shares of Xerox during the fourth quarter valued at about $25,000. FNY Investment Advisers LLC purchased a new position in Xerox in the 4th quarter worth approximately $25,000. Hexagon Capital Partners LLC lifted its holdings in shares of Xerox by 87.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,627 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 758 shares during the last quarter. Quarry LP bought a new stake in Xerox in the first quarter valued at approximately $29,000. Finally, Clear Street Markets LLC increased its holdings in Xerox by 42.9% during the 4th quarter. Clear Street Markets LLC now owns 3,000 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Stock Down 2.1 %

Shares of NYSE XRX opened at $17.51 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.91 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $2.17 billion, a PE ratio of -87.55 and a beta of 1.56. The firm’s 50-day moving average is $18.00 and its 200-day moving average is $16.23. Xerox has a 1 year low of $12.06 and a 1 year high of $19.78.

Xerox (NYSE:XRX) last announced its quarterly earnings data 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 return on equity of 9.41% and a net margin of 0.01%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the company earned $0.89 EPS. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities analysts expect that Xerox will post 2.27 EPS for the current 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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.71%. The ex-dividend date is Wednesday, March 27th. Xerox’s payout ratio is presently -500.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on XRX. StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price target on Xerox from $16.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, January 26th.

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.