Stock Traders Purchase High Volume of Put Options on Xerox (XRX)
Xerox Corp (NYSE:XRX) saw some unusual options trading on Thursday. Stock investors purchased 3,465 put options on the stock. This is an increase of approximately 1,413% compared to the typical daily volume of 229 put options.
In related news, EVP Herve Tessler sold 6,000 shares of Xerox stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $28.59, for a total transaction of $171,540.00. Following the sale, the executive vice president now owns 35,878 shares of the company’s stock, valued at approximately $1,025,752.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Xerox by 22.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,622,287 shares of the information technology services provider’s stock worth $287,036,000 after purchasing an additional 1,578,302 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Xerox by 7.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,065,082 shares of the information technology services provider’s stock worth $168,633,000 after purchasing an additional 361,956 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Xerox by 37.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,392,867 shares of the information technology services provider’s stock worth $146,243,000 after purchasing an additional 1,197,634 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Xerox by 6.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,331,065 shares of the information technology services provider’s stock worth $77,600,000 after purchasing an additional 148,093 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Xerox by 17.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,566,518 shares of the information technology services provider’s stock worth $52,150,000 after purchasing an additional 229,627 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.
Xerox (NYSE:XRX) last released its quarterly earnings results on Thursday, October 26th. The information technology services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.06. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Xerox had a return on equity of 17.23% and a net margin of 5.29%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. equities research analysts expect that Xerox will post 3.38 earnings per share for the current fiscal year.
XRX has been the subject of several research analyst reports. UBS Group restated a “hold” rating and set a $34.50 price target on shares of Xerox in a report on Tuesday, December 5th. Zacks Investment Research upgraded Xerox from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $35.21.
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Xerox Company Profile
Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.
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