Xerox Sees Unusually High Options Volume (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) saw unusually large options trading activity on Wednesday. Traders acquired 1,689 put options on the company. This represents an increase of 1,369% compared to the average daily volume of 115 put options.

Xerox Trading Down 3.1 %

Shares of XRX opened at $8.23 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34. Xerox has a 12-month low of $8.02 and a 12-month high of $19.78. The firm has a 50-day moving average price of $10.37 and a 200 day moving average price of $11.88. The firm has a market capitalization of $1.02 billion, a P/E ratio of -7.84 and a beta of 1.57.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Tuesday, October 29th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.28). Xerox had a negative net margin of 1.60% and a positive return on equity of 7.33%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company posted $0.46 EPS. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. Sell-side analysts forecast that Xerox will post 1.72 EPS for the current year.

Institutional Investors Weigh In On Xerox

A number of hedge funds have recently modified their holdings of the company. US Bancorp DE boosted its stake in Xerox by 42.3% during the third quarter. US Bancorp DE now owns 6,353 shares of the information technology services provider’s stock worth $66,000 after buying an additional 1,888 shares during the period. Nisa Investment Advisors LLC boosted its stake in Xerox by 42.7% during the third quarter. Nisa Investment Advisors LLC now owns 73,147 shares of the information technology services provider’s stock worth $778,000 after buying an additional 21,897 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Xerox by 24.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,600 shares of the information technology services provider’s stock worth $183,000 after buying an additional 3,444 shares during the period. International Assets Investment Management LLC boosted its stake in Xerox by 938.0% during the third quarter. International Assets Investment Management LLC now owns 8,304 shares of the information technology services provider’s stock worth $800,000 after buying an additional 7,504 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Xerox by 1,960.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 163,163 shares of the information technology services provider’s stock worth $1,694,000 after buying an additional 155,244 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on XRX. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Loop Capital reduced their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. JPMorgan Chase & Co. reduced their target price on shares of Xerox from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, Morgan Stanley reduced their target price on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.50.

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.