Traders Purchase Large Volume of Xerox Put Options (NYSE:XRX) – MarketBeat
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Xerox Holdings Co. (NYSE:XRX – Get Rating) saw unusually large options trading on Wednesday. Traders purchased 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.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on XRX shares. StockNews.com started coverage on Xerox in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Citigroup dropped their price objective on Xerox from $15.00 to $10.00 and set a “sell” rating for the company in a research note on Wednesday, October 26th. Morgan Stanley dropped their price objective on Xerox from $14.00 to $11.00 and set an “underweight” rating for the company in a research note on Monday, October 17th. Finally, Credit Suisse Group lowered their target price on Xerox from $14.00 to $13.00 and set an “underperform” rating for the company in a research note on Tuesday, October 18th. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $12.00.
Xerox Trading Up 0.8 %
XRX opened at $17.42 on Thursday. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -2.53 and a beta of 1.72. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 0.93. The business has a fifty day moving average price of $15.79 and a 200 day moving average price of $15.78. Xerox has a 12 month low of $11.80 and a 12 month high of $23.25.
Xerox (NYSE:XRX – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The information technology services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.18). The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Xerox had a positive return on equity of 2.66% and a negative net margin of 16.10%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. Sell-side analysts expect that Xerox will post 0.75 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Xerox news, Director Hernandez Margarita Palau bought 10,000 shares of the business’s stock in a transaction on Tuesday, November 29th. The stock was bought at an average price of $15.55 per share, with a total value of $155,500.00. Following the completion of the purchase, the director now directly owns 15,500 shares in the company, valued at $241,025. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by insiders.
Institutional Trading of Xerox
Institutional investors have recently bought and sold shares of the business. Natixis purchased a new stake in Xerox during the 2nd quarter worth about $858,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Xerox in the 2nd quarter valued at about $346,000. Sigma Planning Corp lifted its holdings in shares of Xerox by 73.3% in the 2nd quarter. Sigma Planning Corp now owns 35,747 shares of the information technology services provider’s stock valued at $531,000 after purchasing an additional 15,115 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Xerox by 39.8% in the 2nd quarter. Captrust Financial Advisors now owns 7,716 shares of the information technology services provider’s stock valued at $117,000 after purchasing an additional 2,195 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Xerox by 7.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 628,316 shares of the information technology services provider’s stock valued at $9,330,000 after purchasing an additional 45,339 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.
Xerox Company Profile
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Xerox Holdings Corporation, a workplace technology company, designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.
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