Hillsdale Investment Management Inc. Raises Stake in Pitney Bowes Inc. (PBI)

Hillsdale Investment Management Inc. increased its position in Pitney Bowes Inc. (NYSE:PBI) by 35.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,900 shares of the technology company’s stock after buying an additional 7,000 shares during the period. Hillsdale Investment Management Inc.’s holdings in Pitney Bowes were worth $377,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Pitney Bowes by 11.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock valued at $106,000 after purchasing an additional 748 shares during the last quarter. Seven Eight Capital LP acquired a new position in Pitney Bowes during the 2nd quarter valued at about $108,000. ETRADE Capital Management LLC acquired a new position in Pitney Bowes during the 3rd quarter valued at about $168,000. IFP Advisors Inc boosted its stake in Pitney Bowes by 74.4% during the 2nd quarter. IFP Advisors Inc now owns 11,236 shares of the technology company’s stock valued at $170,000 after purchasing an additional 4,793 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in Pitney Bowes by 23.0% during the 2nd quarter. D.A. Davidson & CO. now owns 12,300 shares of the technology company’s stock valued at $185,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors own 73.71% of the company’s stock.

Pitney Bowes Inc. (NYSE PBI) traded down $0.39 during trading on Friday, hitting $10.28. 3,689,697 shares of the company’s stock traded hands, compared to its average volume of 3,030,935. Pitney Bowes Inc. has a 1 year low of $9.50 and a 1 year high of $16.60. The company has a debt-to-equity ratio of 35.49, a quick ratio of 1.37 and a current ratio of 1.42. The company has a market cap of $1,992.39, a PE ratio of 6.88 and a beta of 1.13.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Wednesday, November 1st. The technology company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.10). Pitney Bowes had a negative return on equity of 5,297.85% and a net margin of 2.64%. The firm had revenue of $842.82 million for the quarter, compared to the consensus estimate of $837.60 million. During the same period in the prior year, the business earned $0.44 EPS. Pitney Bowes’s quarterly revenue was up .5% compared to the same quarter last year. sell-side analysts expect that Pitney Bowes Inc. will post 1.38 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.1875 per share. The ex-dividend date is Monday, November 20th. This represents a $0.75 annualized dividend and a dividend yield of 7.30%. Pitney Bowes’s dividend payout ratio is currently 156.25%.

PBI has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Monday, September 4th. ValuEngine cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Cross Research cut shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, Loop Capital dropped their target price on shares of Pitney Bowes from $14.00 to $12.00 and set a “hold” rating on the stock in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.50.

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Pitney Bowes Company Profile

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.

Institutional Ownership by Quarter for Pitney Bowes (NYSE:PBI)

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