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 purchased 1,689 put options on the company. This is an increase of approximately 1,369% compared to the average volume of 115 put options.

Analysts Set New Price Targets

XRX has been the subject of several analyst reports. StockNews.com upgraded Xerox from a "hold" rating to a "buy" rating in a report on Thursday, December 26th. Morgan Stanley decreased their price target on Xerox from $10.00 to $8.00 and set an "underweight" rating for the company in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their price target on Xerox from $11.00 to $8.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $9.50.

Xerox Stock Performance

XRX stock traded up $0.07 during midday trading on Thursday, reaching $8.92. The stock had a trading volume of 2,824,697 shares, compared to its average volume of 2,840,359. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a fifty day simple moving average of $8.75 and a two-hundred day simple moving average of $9.99. The stock has a market cap of $1.11 billion, a PE ratio of -0.81 and a beta of 1.59. Xerox has a 52-week low of $8.02 and a 52-week high of $19.78.

Xerox (NYSE:XRX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.26). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.63 billion. Xerox had a negative net margin of 21.31% and a positive return on equity of 6.60%. The business's revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 earnings per share. As a group, equities research analysts anticipate that Xerox will post 1.12 EPS for the current year.

Xerox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 11.21%. Xerox's dividend payout ratio is presently -9.06%.

Hedge Funds Weigh In On Xerox

Several institutional investors have recently made changes to their positions in XRX. Gladius Capital Management LP acquired a new stake in Xerox in the third quarter valued at approximately $29,000. US Bancorp DE raised its position in Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider's stock worth $66,000 after acquiring an additional 1,888 shares during the period. International Assets Investment Management LLC lifted its holdings in Xerox by 938.0% during the third quarter. International Assets Investment Management LLC now owns 8,304 shares of the information technology services provider's stock valued at $800,000 after purchasing an additional 7,504 shares in the last quarter. Plato Investment Management Ltd grew its position in shares of Xerox by 45.0% in the second quarter. Plato Investment Management Ltd now owns 9,346 shares of the information technology services provider's stock valued at $109,000 after purchasing an additional 2,899 shares during the period. Finally, CWM LLC increased its stake in shares of Xerox by 381.3% during the third quarter. CWM LLC now owns 10,897 shares of the information technology services provider's stock worth $113,000 after purchasing an additional 8,633 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

About Xerox

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.