Xerox Sees Unusually High Options Volume (NYSE:XRX)

Xerox Corp (NYSE:XRX) saw some unusual options trading activity on Wednesday. Stock investors purchased 8,355 put options on the company. This is an increase of 1,519% compared to the typical volume of 516 put options.

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. cut shares of Xerox from a “neutral” rating to an “underweight” rating and set a $31.00 target price for the company. in a report on Wednesday, October 30th. Credit Suisse Group increased their target price on shares of Xerox from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Zacks Investment Research raised shares of Xerox from a “hold” rating to a “strong-buy” rating and set a $36.00 target price for the company in a report on Sunday. Finally, ValuEngine cut shares of Xerox from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $36.67.

In other Xerox news, EVP Herve Tessler sold 32,200 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $31.22, for a total value of $1,005,284.00. Following the completion of the transaction, the executive vice president now directly owns 11,804 shares of the company’s stock, valued at $368,520.88. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. BP PLC acquired a new stake in shares of Xerox in the second quarter valued at approximately $708,000. JPMorgan Chase & Co. boosted its position in Xerox by 56.4% during the second quarter. JPMorgan Chase & Co. now owns 949,399 shares of the information technology services provider’s stock worth $33,543,000 after acquiring an additional 342,360 shares during the last quarter. Ossiam acquired a new stake in Xerox during the second quarter worth approximately $143,000. Allianz Asset Management GmbH boosted its position in Xerox by 32.9% during the second quarter. Allianz Asset Management GmbH now owns 488,569 shares of the information technology services provider’s stock worth $17,301,000 after acquiring an additional 121,026 shares during the last quarter. Finally, KBC Group NV boosted its position in Xerox by 39.9% during the second quarter. KBC Group NV now owns 193,615 shares of the information technology services provider’s stock worth $6,856,000 after acquiring an additional 55,268 shares during the last quarter. Institutional investors and hedge funds own 85.05% of the company’s stock.

Shares of Xerox stock opened at $37.66 on Thursday. Xerox has a 12-month low of $18.58 and a 12-month high of $38.00. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 0.66. The stock has a market cap of $7.79 billion, a PE ratio of 10.88 and a beta of 1.79. The company has a 50-day moving average of $30.71 and a two-hundred day moving average of $31.97.

Xerox (NYSE:XRX) last released its quarterly earnings results on Tuesday, October 29th. The information technology services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.86 by $0.22. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. Xerox had a net margin of 7.28% and a return on equity of 19.62%. The company’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 earnings per share. On average, sell-side analysts forecast that Xerox will post 4.05 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.00 annualized dividend and a dividend yield of 2.66%. Xerox’s dividend payout ratio is presently 28.90%.

Xerox Company Profile

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.

Read More: Momentum Indicators

Receive News & Ratings for Xerox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xerox and related companies with MarketBeat.com's FREE daily email newsletter.