Xerox Sees Unusually High Options Volume (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX - Get Free Report) was the target of some unusual options trading on Wednesday. Investors bought 1,689 put options on the stock. This represents an increase of 1,369% compared to the average volume of 115 put options.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Xerox from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, Xerox has an average rating of "Reduce" and an average target price of $9.50.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in XRX. PNC Financial Services Group Inc. grew its position in shares of Xerox by 110.8% in the 1st 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 in the last quarter. Allworth Financial LP grew its position in shares of Xerox by 137.7% in the 1st quarter. Allworth Financial LP now owns 6,014 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 3,484 shares in the last quarter. Picton Mahoney Asset Management grew its position in shares of Xerox by 330.5% in the 4th quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 2,885 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Xerox by 331.8% in the 1st quarter. Larson Financial Group LLC now owns 6,507 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 5,000 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Xerox by 569.7% in the 1st quarter. GAMMA Investing LLC now owns 7,045 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 5,993 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Xerox Stock Down 1.1%

XRX stock traded down $0.06 during midday trading on Tuesday, hitting $5.34. 1,427,977 shares of the company's stock were exchanged, compared to its average volume of 2,876,734. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. Xerox has a 12-month low of $3.45 and a 12-month high of $14.81. The firm has a 50 day moving average price of $4.80 and a 200-day moving average price of $7.14. The stock has a market capitalization of $671.72 million, a price-to-earnings ratio of -0.50 and a beta of 1.75.

Xerox (NYSE:XRX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The information technology services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%. The business's revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 EPS. On average, analysts anticipate that Xerox will post 1.07 EPS for the current year.

Xerox Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a $0.125 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.50 annualized dividend and a dividend yield of 9.36%. Xerox's payout ratio is -4.74%.

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.