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

Xerox Holdings Co. (NYSE:XRX - Get Free Report) saw unusually large options trading on Wednesday. Stock traders bought 1,689 put options on the company. This represents an increase of 1,369% compared to the typical daily volume of 115 put options.

Xerox Price Performance

Shares of NYSE:XRX traded down $0.18 during trading on Friday, hitting $4.00. 6,011,592 shares of the stock were exchanged, compared to its average volume of 2,637,999. The company has a fifty day moving average price of $6.82 and a two-hundred day moving average price of $8.44. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. The company has a market cap of $501.12 million, a PE ratio of -0.37 and a beta of 1.66. Xerox has a 12-month low of $3.76 and a 12-month high of $17.75.

Xerox Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.125 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a yield of 12.50%. Xerox's payout ratio is -4.66%.

Hedge Funds Weigh In On Xerox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Xerox by 12.3% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 476,266 shares of the information technology services provider's stock valued at $4,015,000 after buying an additional 52,104 shares during the last quarter. Empowered Funds LLC raised its stake in Xerox by 8.2% in the 4th quarter. Empowered Funds LLC now owns 606,748 shares of the information technology services provider's stock valued at $5,115,000 after purchasing an additional 46,212 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Xerox by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider's stock valued at $15,276,000 after purchasing an additional 92,495 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of Xerox by 6.7% during the fourth quarter. Sound Income Strategies LLC now owns 1,102,688 shares of the information technology services provider's stock worth $9,296,000 after buying an additional 69,182 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Xerox by 2.3% during the third quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider's stock worth $29,161,000 after buying an additional 62,947 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Remove Ads

Analyst Ratings Changes

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

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.