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

Xerox Holdings Co. (NYSE:XRX - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 1,689 put options on the stock. This is an increase of 1,369% compared to the average volume of 115 put options.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Xerox from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $9.50.

Hedge Funds Weigh In On Xerox

Several large investors have recently bought and sold shares of XRX. Pacer Advisors Inc. lifted its holdings in Xerox by 33.2% in the third quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider's stock valued at $176,140,000 after buying an additional 4,228,806 shares during the period. Marshall Wace LLP lifted its holdings in Xerox by 397.5% in the fourth quarter. Marshall Wace LLP now owns 1,378,215 shares of the information technology services provider's stock valued at $11,618,000 after buying an additional 1,101,171 shares during the period. Point72 Asset Management L.P. lifted its holdings in Xerox by 2,846.8% in the fourth quarter. Point72 Asset Management L.P. now owns 1,128,973 shares of the information technology services provider's stock valued at $9,517,000 after buying an additional 1,090,661 shares during the period. BNP Paribas Financial Markets acquired a new position in Xerox in the fourth quarter valued at approximately $4,101,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Xerox in the fourth quarter valued at approximately $3,067,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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Xerox Price Performance

Shares of XRX stock traded up $0.14 during trading hours on Friday, reaching $6.36. 5,534,583 shares of the company were exchanged, compared to its average volume of 3,026,274. Xerox has a fifty-two week low of $6.07 and a fifty-two week high of $18.18. The stock's fifty day moving average is $8.25 and its two-hundred day moving average is $9.16. The company has a market cap of $796.79 million, a price-to-earnings ratio of -0.59 and a beta of 1.66. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84.

Xerox Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.125 per share. The ex-dividend date is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.86%. Xerox's payout ratio is -4.66%.

Xerox Company Profile

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.