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

Xerox Corp (NYSE:XRX) was the target of unusually large options trading on Tuesday. Traders bought 2,629 put options on the stock. This represents an increase of approximately 2,334% compared to the average daily volume of 108 put options.

Large investors have recently bought and sold shares of the stock. Gradient Investments LLC lifted its stake in Xerox by 751.0% in the second quarter. Gradient Investments LLC now owns 834 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 736 shares during the last quarter. Moody National Bank Trust Division bought a new stake in Xerox in the first quarter worth $35,000. NuWave Investment Management LLC lifted its stake in Xerox by 422.1% in the second quarter. NuWave Investment Management LLC now owns 1,227 shares of the information technology services provider’s stock worth $43,000 after purchasing an additional 992 shares during the last quarter. CSat Investment Advisory L.P. raised its stake in shares of Xerox by 56.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,013 shares of the information technology services provider’s stock valued at $40,000 after acquiring an additional 730 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Xerox during the first quarter valued at about $104,000. 86.86% of the stock is currently owned by institutional investors.

Several equities research analysts have recently commented on the company. Zacks Investment Research raised Zymeworks from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Saturday, April 13th. Credit Suisse Group boosted their price target on Delta Air Lines from $37.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Xerox currently has an average rating of “Hold” and a consensus price target of $35.75.

NYSE:XRX traded up $0.34 during trading hours on Thursday, reaching $35.20. 1,372,840 shares of the company were exchanged, compared to its average volume of 2,783,950. The firm has a market capitalization of $7.79 billion, a P/E ratio of 10.17 and a beta of 1.71. Xerox has a 1-year low of $18.58 and a 1-year high of $36.58. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.47 and a quick ratio of 1.18. The firm has a 50 day moving average of $34.62.

Xerox (NYSE:XRX) last issued its quarterly earnings results on Thursday, April 25th. The information technology services provider reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. Xerox had a return on equity of 18.02% and a net margin of 4.91%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the business posted $0.68 EPS. The business’s revenue was down 9.4% compared to the same quarter last year. On average, equities research analysts forecast that Xerox will post 3.89 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.84%. Xerox’s dividend payout ratio (DPR) is presently 28.90%.

About Xerox

Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers intelligent workplace services, including managed print services; digitization services; and digital solutions, such as workflow automation, personalization and communication software, and content management.

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