Traders Purchase High Volume of Put Options on Xerox (XRX)

Xerox Corp (NYSE:XRX) was the target of some unusual options trading on Thursday. Stock traders purchased 3,465 put options on the company. This represents an increase of approximately 1,413% compared to the typical volume of 229 put options.

A number of equities analysts have issued reports on the company. UBS Group cut their price target on Xerox from $36.00 to $34.50 and set a “neutral” rating for the company in a research note on Friday, October 27th. Zacks Investment Research downgraded Xerox from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $35.21.

In other Xerox news, EVP Herve Tessler sold 6,000 shares of Xerox stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $28.59, for a total transaction of $171,540.00. Following the completion of the transaction, the executive vice president now owns 35,878 shares in the company, valued at approximately $1,025,752.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in XRX. Seven Eight Capital LP purchased a new position in shares of Xerox in the 2nd quarter worth approximately $154,000. Captrust Financial Advisors purchased a new position in shares of Xerox in the 2nd quarter worth approximately $1,000,000. BT Investment Management Ltd purchased a new position in shares of Xerox in the 2nd quarter worth approximately $1,197,000. Laurion Capital Management LP boosted its stake in shares of Xerox by 612.3% in the 2nd quarter. Laurion Capital Management LP now owns 92,605 shares of the information technology services provider’s stock worth $2,661,000 after buying an additional 79,605 shares during the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in shares of Xerox in the 2nd quarter worth approximately $231,000. Hedge funds and other institutional investors own 83.54% of the company’s stock.

Xerox (NYSE:XRX) opened at $32.77 on Friday. Xerox has a 12 month low of $26.48 and a 12 month high of $34.13. The firm has a market capitalization of $8,111.11, a P/E ratio of 15.83 and a beta of 1.12. The company has a quick ratio of 1.33, a current ratio of 1.63 and a debt-to-equity ratio of 0.97.

Xerox (NYSE:XRX) last announced its earnings results on Thursday, October 26th. The information technology services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.06. Xerox had a return on equity of 17.23% and a net margin of 5.29%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the business earned $0.84 EPS. The company’s revenue was down 5.0% compared to the same quarter last year. research analysts forecast that Xerox will post 3.38 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be paid a $0.25 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.05%. Xerox’s payout ratio is presently 48.31%.

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About Xerox

Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.

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