Xerox Sees Unusually High Options Volume (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) was the target of unusually large options trading on Wednesday. Investors bought 1,689 put options on the company. This is an increase of 1,369% compared to the typical daily volume of 115 put options.

Institutional Investors Weigh In On Xerox

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in Xerox by 21.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,079 shares of the information technology services provider’s stock worth $324,000 after acquiring an additional 3,177 shares in the last quarter. SteelPeak Wealth LLC boosted its holdings in Xerox by 30.5% in the first quarter. SteelPeak Wealth LLC now owns 34,822 shares of the information technology services provider’s stock worth $632,000 after acquiring an additional 8,140 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in Xerox by 8.7% in the first quarter. Sound Income Strategies LLC now owns 752,435 shares of the information technology services provider’s stock worth $13,469,000 after acquiring an additional 60,446 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Xerox in the first quarter worth $405,000. Finally, Nomura Holdings Inc. bought a new position in shares of Xerox during the fourth quarter valued at $386,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Xerox Price Performance

Shares of XRX stock opened at $16.18 on Friday. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -80.90 and a beta of 1.56. The business’s fifty day moving average is $17.65 and its 200 day moving average is $16.29. Xerox has a twelve month low of $12.06 and a twelve month high of $19.78. The company has a quick ratio of 0.91, a current ratio of 1.14 and a debt-to-equity ratio of 1.06.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Thursday, January 25th. The information technology services provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.09). The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Xerox had a return on equity of 9.41% and a net margin of 0.01%. Xerox’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 earnings per share. Research analysts expect that Xerox will post 2.27 EPS for the current fiscal year.

Xerox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 6.18%. Xerox’s payout ratio is -500.00%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on XRX shares. StockNews.com raised Xerox from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on Xerox from $16.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, January 26th.

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.