Xerox Sees Unusually Large Options Volume (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) was the target of unusually large options trading activity on Wednesday. Stock investors acquired 1,689 put options on the stock. This represents an increase of approximately 1,369% compared to the average daily volume of 115 put options.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Xerox from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat, Xerox has an average rating of “Reduce” and a consensus target price of $9.50.

Xerox Trading Down 2.8 %

XRX opened at $5.64 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.11 and a debt-to-equity ratio of 2.61. Xerox has a twelve month low of $5.62 and a twelve month high of $18.18. The stock has a market capitalization of $706.58 million, a price-to-earnings ratio of -0.53 and a beta of 1.66. The company has a 50-day simple moving average of $7.76 and a 200 day simple moving average of $8.86.

Xerox Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 annualized dividend and a dividend yield of 8.87%. Xerox’s dividend payout ratio is -4.66%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in XRX. Yousif Capital Management LLC boosted its holdings in shares of Xerox by 2.8% in the 4th quarter. Yousif Capital Management LLC now owns 53,816 shares of the information technology services provider’s stock valued at $454,000 after purchasing an additional 1,486 shares in the last quarter. Franklin Resources Inc. boosted its stake in Xerox by 1.9% in the fourth quarter. Franklin Resources Inc. now owns 95,012 shares of the information technology services provider’s stock valued at $801,000 after buying an additional 1,733 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Xerox by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,209 shares of the information technology services provider’s stock valued at $558,000 after acquiring an additional 2,320 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Xerox by 3.0% during the fourth quarter. Russell Investments Group Ltd. now owns 87,466 shares of the information technology services provider’s stock worth $737,000 after acquiring an additional 2,534 shares in the last quarter. Finally, Picton Mahoney Asset Management lifted its holdings in shares of Xerox by 330.5% in the fourth 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 during the last quarter. 85.36% of the stock is owned by institutional investors.

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.