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

Xerox Holdings Co. (NYSE:XRX) saw some unusual options trading on Wednesday. Investors bought 1,689 put options on the company. This represents an increase of 1,369% compared to the typical volume of 115 put options.

Xerox Trading Down 2.8 %

Shares of NYSE XRX opened at $5.64 on Friday. The stock has a market cap of $706.58 million, a P/E ratio of -0.53 and a beta of 1.66. The firm has a 50 day moving average price of $7.76 and a two-hundred day moving average price of $8.86. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.84 and a current ratio of 1.11. Xerox has a 52-week low of $5.62 and a 52-week high of $18.18.

Xerox Cuts Dividend

The business also recently announced 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. This represents a $0.50 annualized dividend and a yield of 8.87%. The ex-dividend date is Monday, March 31st. Xerox’s dividend payout ratio is currently -4.66%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Xerox from a “buy” rating to a “hold” rating in a research 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $9.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its position in shares of Xerox by 33.2% during the third quarter. Pacer Advisors Inc. now owns 16,969,127 shares of the information technology services provider’s stock worth $176,140,000 after acquiring an additional 4,228,806 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Xerox by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 15,763,679 shares of the information technology services provider’s stock valued at $132,888,000 after purchasing an additional 199,598 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Xerox by 2.3% during the third quarter. Geode Capital Management LLC now owns 2,808,775 shares of the information technology services provider’s stock worth $29,161,000 after buying an additional 62,947 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Xerox by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,812,102 shares of the information technology services provider’s stock worth $15,276,000 after buying an additional 92,495 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Xerox by 5.9% in the fourth quarter. Invesco Ltd. now owns 1,706,086 shares of the information technology services provider’s stock valued at $14,382,000 after buying an additional 94,779 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

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.