Xerox Sees Unusually Large Options Volume (NYSE:XRX)

Key Points

• Investors purchased a significant volume of 1,689 put options for Xerox, marking a 1,369% increase in trading compared to the usual volume of 115 put options.
• Xerox reported a loss of $0.64 EPS for the last quarter, missing analyst expectations, and its revenue fell by 0.1% compared to the previous year.
• The company declared a $0.025 quarterly dividend, reflecting an annualized yield of 2.6%, with the ex-dividend date set for September 30th.

Xerox Holdings Co. (NYSE:XRX - Get Free Report) saw unusually large options trading on Wednesday. Traders acquired 1,689 put options on the company. Thisrepresentsanincreaseofapproximately1,369% compared to the average daily volume of 115 put options.

Insiders Place Their Bets

In other Xerox news, Director A. Scott Letier acquired 29,600 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was purchased at an average price of $3.95 per share, for a total transaction of $116,920.00. Following the acquisition, the director owned 58,984 shares in the company, valued at approximately $232,986.80. This trade represents a 100.74% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Xerox

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its stake in shares of Xerox by 110.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider's stock worth $27,000 after acquiring an additional 2,911 shares during the last quarter. Allworth Financial LP increased its stake in shares of Xerox by 137.7% during the 1st quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 3,484 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Xerox by 331.8% in the first quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 5,000 shares during the period. Spire Wealth Management acquired a new stake in Xerox in the 2nd quarter worth about $31,000. Finally, GAMMA Investing LLC increased its holdings in Xerox by 569.7% in the 1st quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider's stock valued at $34,000 after buying an additional 5,993 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Xerox Trading Down 3.2%

Shares of NYSE XRX traded down $0.13 during trading on Monday, hitting $3.80. 1,261,918 shares of the company traded hands, compared to its average volume of 4,042,680. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. The firm has a market capitalization of $477.52 million, a P/E ratio of -0.35 and a beta of 1.77. The company has a 50-day moving average price of $4.66 and a 200-day moving average price of $5.02. Xerox has a 1 year low of $3.44 and a 1 year high of $11.29.

Xerox (NYSE:XRX - Get Free Report) last issued its earnings results on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.71). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. During the same quarter last year, the business posted $0.29 earnings per share. The business's quarterly revenue was down .1% on a year-over-year basis. Xerox has set its FY 2025 guidance at EPS. On average, equities analysts predict that Xerox will post 1.07 EPS for the current year.

Xerox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, September 30th. Xerox's dividend payout ratio (DPR) is -0.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on XRX shares. Zacks Research upgraded Xerox from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Citigroup started coverage on Xerox in a research report on Monday, August 18th. They set a "neutral" rating and a $4.50 price objective for the company. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Xerox currently has a consensus rating of "Reduce" and a consensus price target of $6.83.

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.