Xerox Sees Unusually High Options Volume (NYSE:XRX)

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

Institutional Trading of Xerox

Several institutional investors have recently added to or reduced their stakes in the stock. M&T Bank Corp acquired a new stake in Xerox in the 3rd quarter valued at approximately $461,000. Balyasny Asset Management LLC grew its stake in shares of Xerox by 37.8% in the third quarter. Balyasny Asset Management LLC now owns 102,141 shares of the information technology services provider’s stock worth $1,336,000 after acquiring an additional 27,995 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Xerox by 37.0% in the third quarter. Public Employees Retirement System of Ohio now owns 152,327 shares of the information technology services provider’s stock worth $1,992,000 after acquiring an additional 41,125 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Xerox by 12.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 3,126,217 shares of the information technology services provider’s stock worth $40,891,000 after acquiring an additional 340,254 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Xerox by 9.5% in the third quarter. Mercer Global Advisors Inc. ADV now owns 18,460 shares of the information technology services provider’s stock worth $241,000 after acquiring an additional 1,594 shares in the last quarter. Institutional investors and hedge funds own 94.58% of the company’s stock.

Xerox Stock Up 0.5 %

XRX stock opened at $15.33 on Friday. The firm has a market cap of $2.39 billion, a PE ratio of -2.23 and a beta of 1.71. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.93 and a current ratio of 1.17. The firm’s 50 day moving average price is $14.89 and its 200-day moving average price is $16.17. Xerox has a one year low of $11.80 and a one year high of $24.14.

Xerox (NYSE:XRXGet Rating) last posted its earnings results on Tuesday, October 25th. The information technology services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.21). Xerox had a negative net margin of 16.10% and a positive return on equity of 2.66%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the business posted $0.48 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts anticipate that Xerox will post 0.75 EPS for the current year.

Xerox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Saturday, December 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $1.00 annualized dividend and a yield of 6.52%. Xerox’s dividend payout ratio (DPR) is presently -14.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Credit Suisse Group decreased their target price on shares of Xerox from $14.00 to $13.00 and set an “underperform” rating on the stock in a research note on Tuesday, October 18th. Citigroup decreased their target price on shares of Xerox from $15.00 to $10.00 and set a “sell” rating on the stock in a research note on Wednesday, October 26th. StockNews.com assumed coverage on shares of Xerox in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Morgan Stanley decreased their target price on shares of Xerox from $14.00 to $11.00 and set an “underweight” rating on the stock in a research note on Monday, October 17th. Four research analysts have rated the stock with a sell rating and one has given a hold rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $12.00.

About Xerox

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Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.

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