Raymond James Financial Services Advisors Inc. increased its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 38.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,259 shares of the technology company’s stock after purchasing an additional 4,268 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Pitney Bowes were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its position in shares of Pitney Bowes by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 283,610 shares of the technology company’s stock worth $4,282,000 after purchasing an additional 6,178 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Pitney Bowes during the 2nd quarter worth about $4,548,000. Sciencast Management LP acquired a new position in shares of Pitney Bowes during the 2nd quarter worth about $217,000. Gotham Asset Management LLC raised its position in shares of Pitney Bowes by 50.0% during the 2nd quarter. Gotham Asset Management LLC now owns 398,026 shares of the technology company’s stock worth $6,010,000 after purchasing an additional 132,684 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its position in shares of Pitney Bowes by 340.9% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 1,134,726 shares of the technology company’s stock worth $17,133,000 after purchasing an additional 877,342 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.
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Several research firms recently weighed in on PBI. Zacks Investment Research downgraded shares of Pitney Bowes from a “hold” rating to a “strong sell” rating in a research report on Monday, November 6th. Loop Capital reduced their price target on shares of Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Thursday, November 2nd. BidaskClub downgraded shares of Pitney Bowes from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. ValuEngine upgraded shares of Pitney Bowes from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Sidoti upgraded shares of Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $14.50.
Shares of Pitney Bowes Inc. (NYSE:PBI) opened at $10.37 on Friday. The company has a market cap of $1,936.37, a PE ratio of 6.69 and a beta of 1.25. The company has a quick ratio of 1.37, a current ratio of 1.42 and a debt-to-equity ratio of 35.49. Pitney Bowes Inc. has a 1-year low of $10.22 and a 1-year high of $16.60.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.10). The business had revenue of $842.82 million during the quarter, compared to analyst estimates of $837.60 million. Pitney Bowes had a net margin of 2.64% and a negative return on equity of 5,297.85%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 EPS. equities research analysts expect that Pitney Bowes Inc. will post 1.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 7.23%. Pitney Bowes’s payout ratio is 156.25%.
About Pitney Bowes
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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