Traders Buy Large Volume of Put Options on Xerox (XRX)
Xerox Corp (NYSE:XRX) was the recipient of some unusual options trading on Thursday. Stock investors acquired 5,498 put options on the stock. This represents an increase of 1,634% compared to the average daily volume of 317 put options.
In other Xerox news, Chairman Keith Cozza acquired 50,000 shares of Xerox stock in a transaction that occurred on Friday, July 27th. The stock was bought at an average cost of $25.42 per share, for a total transaction of $1,271,000.00. Following the acquisition, the chairman now owns 50,000 shares of the company’s stock, valued at $1,271,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Herve Tessler sold 16,567 shares of Xerox stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $26.03, for a total value of $431,239.01. Following the completion of the sale, the insider now owns 34,647 shares of the company’s stock, valued at $901,861.41. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rampart Investment Management Company LLC increased its position in shares of Xerox by 105.3% during the 1st quarter. Rampart Investment Management Company LLC now owns 6,095 shares of the information technology services provider’s stock valued at $175,000 after purchasing an additional 3,126 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in Xerox by 221.7% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,676 shares of the information technology services provider’s stock valued at $192,000 after acquiring an additional 4,601 shares during the last quarter. First Allied Advisory Services Inc. bought a new position in Xerox in the 1st quarter valued at $200,000. Alpha Windward LLC grew its position in Xerox by 50.7% in the 2nd quarter. Alpha Windward LLC now owns 8,405 shares of the information technology services provider’s stock valued at $202,000 after acquiring an additional 2,826 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Xerox in the 2nd quarter valued at $214,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.
Xerox (NYSE:XRX) last released its quarterly earnings data on Thursday, July 26th. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.03). The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.49 billion. Xerox had a return on equity of 16.63% and a net margin of 1.22%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 EPS. analysts anticipate that Xerox will post 3.3 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Thursday, September 27th. Xerox’s dividend payout ratio is currently 28.74%.
XRX has been the subject of a number of recent research reports. Zacks Investment Research downgraded Xerox from a “buy” rating to a “hold” rating in a research note on Friday, May 25th. ValuEngine cut Xerox from a “hold” rating to a “sell” rating in a research report on Thursday, May 31st. Standpoint Research raised Xerox from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. Citigroup assumed coverage on Xerox in a research report on Friday, July 20th. They set a “buy” rating and a $39.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Xerox from $38.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, July 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Xerox currently has a consensus rating of “Hold” and an average price target of $35.90.
Xerox Company Profile
Xerox Corporation designs, develops, and sells document management systems and solutions worldwide. It offers managed document services, including managed print services and multi-channel communication services, as well as a range of digital solutions, such as workflow automation services, content management, and digitization services.
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