Xerox Sees Unusually High Options Volume (NYSE:XRX)

Xerox Holdings Co. (NYSE:XRX) was the target of some unusual options trading activity on Wednesday. Traders bought 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.

Institutional Trading of Xerox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE raised its holdings 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 purchasing an additional 1,888 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings 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 purchasing an additional 21,897 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Xerox by 24.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,600 shares of the information technology services provider’s stock valued at $183,000 after acquiring an additional 3,444 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Xerox by 938.0% in the 3rd quarter. International Assets Investment Management LLC now owns 8,304 shares of the information technology services provider’s stock valued at $800,000 after acquiring an additional 7,504 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Xerox by 1,960.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 163,163 shares of the information technology services provider’s stock valued at $1,694,000 after acquiring an additional 155,244 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on XRX. Morgan Stanley lowered their price objective on shares of Xerox from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday. Loop Capital reduced their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a 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 on the stock in a report on Wednesday. Finally, StockNews.com raised shares of Xerox from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.50.

Xerox Stock Down 3.1 %

Shares of NYSE:XRX opened at $8.23 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 1.34. Xerox has a fifty-two week low of $8.02 and a fifty-two week high of $19.78. The firm’s 50 day moving average price is $10.37 and its 200 day moving average price is $11.88. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -7.84 and a beta of 1.57.

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

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.