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

Xerox Holdings Co. (NYSE:XRXGet Free Report) saw some unusual options trading activity on Wednesday. Investors purchased 1,689 put options on the stock. This is an increase of approximately 1,369% compared to the typical volume of 115 put options.

Wall Street Analyst Weigh In

XRX has been the subject of a number of analyst reports. Loop Capital dropped their price target on Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. StockNews.com upgraded Xerox from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. reduced their price target on Xerox from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday. Finally, Morgan Stanley dropped their price objective on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.50.

Check Out Our Latest Stock Analysis on XRX

Institutional Trading of Xerox

Several hedge funds have recently made changes to their positions in XRX. Sound Income Strategies LLC lifted its holdings in Xerox by 27.9% during the 3rd quarter. Sound Income Strategies LLC now owns 1,033,506 shares of the information technology services provider’s stock worth $10,728,000 after buying an additional 225,617 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in Xerox by 3.5% during the 1st quarter. Bridgeway Capital Management LLC now owns 986,682 shares of the information technology services provider’s stock worth $17,662,000 after purchasing an additional 33,590 shares in the last quarter. SG Capital Management LLC purchased a new stake in Xerox during the 1st quarter worth about $8,466,000. Empowered Funds LLC raised its position in Xerox by 8.3% in the 1st quarter. Empowered Funds LLC now owns 446,810 shares of the information technology services provider’s stock valued at $7,998,000 after purchasing an additional 34,219 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its stake in shares of Xerox by 51.5% in the 2nd quarter. Edgestream Partners L.P. now owns 381,508 shares of the information technology services provider’s stock valued at $4,433,000 after buying an additional 129,616 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Xerox Stock Performance

NYSE:XRX opened at $8.23 on Thursday. The stock has a market capitalization of $1.02 billion, a P/E ratio of -7.84 and a beta of 1.57. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.49. Xerox has a fifty-two week low of $8.02 and a fifty-two week high of $19.78. The company has a 50 day moving average price of $10.37 and a 200 day moving average price of $11.88.

Xerox (NYSE:XRXGet Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.28). Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the firm posted $0.46 EPS. Xerox’s quarterly revenue was down 7.5% compared to the same quarter last year. Equities research analysts forecast that Xerox will post 1.72 EPS for the current year.

Xerox Company Profile

(Get Free Report)

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.

Further Reading

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