Traders Buy Large Volume of Xerox Put Options (XRX)

Xerox Corp (NYSE:XRX) was the recipient of some unusual options trading activity on Thursday. Investors acquired 3,465 put options on the stock. This represents an increase of approximately 1,413% compared to the average volume of 229 put options.

Xerox (NYSE:XRX) opened at $32.77 on Friday. Xerox has a fifty-two week low of $26.48 and a fifty-two week high of $34.13. The firm has a market cap of $8,111.11, a PE ratio of 15.83 and a beta of 1.12. The company has a current ratio of 1.63, a quick ratio of 1.33 and a debt-to-equity ratio of 0.97.

Xerox (NYSE:XRX) last announced its quarterly earnings data on Thursday, October 26th. The information technology services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.06. Xerox had a net margin of 5.29% and a return on equity of 17.23%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. sell-side analysts forecast that Xerox will post 3.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Thursday, December 28th. Xerox’s payout ratio is presently 48.31%.

In other news, EVP Herve Tessler sold 6,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $28.59, for a total transaction of $171,540.00. Following the transaction, the executive vice president now owns 35,878 shares in the company, valued at $1,025,752.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. AXA increased its position in shares of Xerox by 0.8% during the third quarter. AXA now owns 1,450,006 shares of the information technology services provider’s stock worth $48,270,000 after acquiring an additional 11,385 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Xerox by 10.0% during the third quarter. Neuberger Berman Group LLC now owns 58,328 shares of the information technology services provider’s stock worth $1,942,000 after acquiring an additional 5,316 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Xerox by 1.8% during the third quarter. California Public Employees Retirement System now owns 714,372 shares of the information technology services provider’s stock worth $23,781,000 after acquiring an additional 12,484 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Xerox during the third quarter worth about $438,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Xerox by 521.4% during the third quarter. Cubist Systematic Strategies LLC now owns 65,972 shares of the information technology services provider’s stock worth $2,196,000 after acquiring an additional 55,355 shares in the last quarter. 83.54% of the stock is owned by institutional investors.

Several brokerages have recently weighed in on XRX. UBS Group began coverage on shares of Xerox in a report on Tuesday, October 3rd. They set a “neutral” rating and a $36.00 price objective on the stock. Zacks Investment Research upgraded shares of Xerox from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $35.21.

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About Xerox

Xerox Corporation is a provider of digital print technology and related solutions. The Company has capabilities in imaging and printing, data analytics, and the development of secure and automated solutions to help customers improve productivity. The Company’s primary offerings span three main areas: Managed Document Services, Workplace Solutions and Graphic Communications.

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