Xerox Target of Unusually Large Options Trading (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 1,689 put options on the company. This represents an increase of approximately 1,369% compared to the typical volume of 115 put options.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley lowered their target price on Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. StockNews.com cut Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lowered their target price on Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $9.50.

Hedge Funds Weigh In On Xerox

Hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. lifted its stake in Xerox by 33.2% in the 3rd quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock valued at $176,140,000 after purchasing an additional 4,228,806 shares during the last quarter. Marshall Wace LLP lifted its stake in Xerox by 397.5% in the 4th quarter. Marshall Wace LLP now owns 1,378,215 shares of the information technology services provider’s stock valued at $11,618,000 after purchasing an additional 1,101,171 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Xerox by 2,846.8% in the 4th quarter. Point72 Asset Management L.P. now owns 1,128,973 shares of the information technology services provider’s stock valued at $9,517,000 after purchasing an additional 1,090,661 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Xerox in the 4th quarter valued at about $4,101,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Xerox in the 4th quarter valued at about $3,067,000. Institutional investors own 85.36% of the company’s stock.

Xerox Price Performance

Shares of NYSE XRX opened at $7.85 on Friday. The stock has a market capitalization of $976.30 million, a price-to-earnings ratio of -0.73 and a beta of 1.59. The business has a 50-day moving average of $8.70 and a 200-day moving average of $9.41. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.11 and a quick ratio of 0.84. Xerox has a fifty-two week low of $7.77 and a fifty-two week high of $19.48.

Xerox Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 6.37%. Xerox’s payout ratio is -9.31%.

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.