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

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

Xerox Price Performance

Shares of NYSE:XRX opened at $3.30 on Thursday. 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 fifty-two week low of $3.16 and a fifty-two week high of $11.29. The firm has a 50-day simple moving average of $3.81 and a 200 day simple moving average of $4.55. The company has a market cap of $415.24 million, a PE ratio of -0.31 and a beta of 1.81.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Thursday, July 31st. The information technology services provider reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.71). Xerox had a negative net margin of 21.24% and a positive return on equity of 7.57%. During the same quarter in the prior year, the company posted $0.29 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. Xerox has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Xerox will post 1.07 EPS for the current year.

Xerox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Xerox’s payout ratio is presently -0.87%.

Insider Buying and Selling at Xerox

In related news, Director A. Scott Letier bought 29,600 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was bought at an average price of $3.95 per share, with a total value of $116,920.00. Following the transaction, the director owned 58,984 shares of the company’s stock, valued at approximately $232,986.80. This trade represents a 100.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Gabelli Funds LLC boosted its stake in Xerox by 4.5% during the 2nd quarter. Gabelli Funds LLC now owns 58,000 shares of the information technology services provider’s stock valued at $306,000 after purchasing an additional 2,500 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Xerox by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,047 shares of the information technology services provider’s stock valued at $333,000 after purchasing an additional 2,838 shares during the period. PNC Financial Services Group Inc. boosted its stake in Xerox by 110.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,539 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 2,911 shares during the period. SBI Securities Co. Ltd. boosted its stake in Xerox by 21.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 17,281 shares of the information technology services provider’s stock valued at $83,000 after purchasing an additional 3,066 shares during the period. Finally, Yousif Capital Management LLC boosted its stake in Xerox by 5.7% during the 1st quarter. Yousif Capital Management LLC now owns 56,907 shares of the information technology services provider’s stock valued at $275,000 after purchasing an additional 3,091 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

XRX has been the subject of several research analyst reports. Citigroup initiated coverage on shares of Xerox in a research report on Monday, August 18th. They issued a “neutral” rating and a $4.50 target price for the company. Zacks Research raised shares of Xerox from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 3rd. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Xerox currently has an average rating of “Reduce” and an average price target of $6.83.

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.