Xerox Target of Unusually High Options Trading (NYSE:XRX)
by Doug Wharley · The Cerbat GemXerox Holdings Co. (NYSE:XRX – Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock investors bought 1,689 put options on the stock. This is an increase of 1,369% compared to the typical volume of 115 put options.
Xerox Stock Performance
Shares of XRX opened at $2.59 on Friday. Xerox has a 1 year low of $2.32 and a 1 year high of $9.91. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84. The stock’s fifty day moving average price is $2.69 and its two-hundred day moving average price is $3.71. The firm has a market cap of $331.62 million, a PE ratio of -0.24 and a beta of 1.72.
Xerox (NYSE:XRX – Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The information technology services provider reported $0.20 earnings per share for the quarter, topping 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%.The company’s revenue was up 28.3% on a year-over-year basis. During the same period last year, the company posted $0.25 earnings per share. On average, equities research analysts forecast that Xerox will post 1.07 EPS for the current year.
Xerox Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.10 annualized dividend and a dividend yield of 3.9%. Xerox’s payout ratio is -1.28%.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. Marshall Wace LLP raised its holdings in Xerox by 71.0% during the 2nd quarter. Marshall Wace LLP now owns 3,928,444 shares of the information technology services provider’s stock valued at $20,703,000 after acquiring an additional 1,630,999 shares during the period. Two Sigma Investments LP raised its stake in shares of Xerox by 43.2% during the 3rd quarter. Two Sigma Investments LP now owns 2,476,689 shares of the information technology services provider’s stock valued at $9,312,000 after purchasing an additional 746,582 shares during the period. Invesco Ltd. lifted its holdings in Xerox by 3.4% during the 2nd quarter. Invesco Ltd. now owns 1,898,380 shares of the information technology services provider’s stock worth $10,004,000 after purchasing an additional 61,723 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Xerox by 10.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,851,034 shares of the information technology services provider’s stock worth $6,960,000 after purchasing an additional 181,023 shares during the period. Finally, Paradigm Capital Management Inc. NY boosted its stake in Xerox by 45.3% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,810,248 shares of the information technology services provider’s stock worth $9,540,000 after purchasing an additional 564,048 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
XRX has been the subject of several recent research reports. Citigroup decreased their price target on Xerox from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Monday, November 10th. Zacks Research lowered shares of Xerox from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $3.50.
Read Our Latest Stock Analysis on XRX
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.