Pitney Bowes Inc. (PBI) Position Decreased by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,666,997 shares of the technology company’s stock after selling 59,757 shares during the quarter. Wells Fargo & Company MN owned about 0.89% of Pitney Bowes worth $23,353,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PBI. Brookstone Capital Management bought a new stake in Pitney Bowes in the second quarter worth about $283,000. Meeder Asset Management Inc. raised its position in Pitney Bowes by 23.1% in the third quarter. Meeder Asset Management Inc. now owns 64,824 shares of the technology company’s stock worth $909,000 after acquiring an additional 12,180 shares in the last quarter. Gotham Asset Management LLC raised its position in Pitney Bowes by 50.0% in the second quarter. Gotham Asset Management LLC now owns 398,026 shares of the technology company’s stock worth $6,010,000 after acquiring an additional 132,684 shares in the last quarter. TrueNorth Inc. raised its position in Pitney Bowes by 54.6% in the third quarter. TrueNorth Inc. now owns 122,447 shares of the technology company’s stock worth $1,715,000 after acquiring an additional 43,228 shares in the last quarter. Finally, WBI Investments Inc. raised its position in Pitney Bowes by 254.2% in the second quarter. WBI Investments Inc. now owns 63,533 shares of the technology company’s stock worth $959,000 after acquiring an additional 45,597 shares in the last quarter. Institutional investors and hedge funds own 73.78% of the company’s stock.

Shares of Pitney Bowes Inc. (NYSE:PBI) opened at $10.91 on Friday. The company has a debt-to-equity ratio of 35.49, a current ratio of 1.42 and a quick ratio of 1.37. Pitney Bowes Inc. has a 1 year low of $9.50 and a 1 year high of $16.60. The company has a market cap of $2,037.20, a PE ratio of 7.04 and a beta of 1.12.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.10). The company had revenue of $842.82 million for the quarter, compared to analyst estimates of $837.60 million. Pitney Bowes had a negative return on equity of 5,297.85% and a net margin of 2.64%. Pitney Bowes’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. equities analysts anticipate that Pitney Bowes Inc. will post 1.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st were issued a dividend of $0.1875 per share. The ex-dividend date was Monday, November 20th. This represents a $0.75 annualized dividend and a yield of 6.87%. Pitney Bowes’s payout ratio is presently 156.25%.

PBI has been the topic of several research reports. Zacks Investment Research upgraded 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 upgraded shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Loop Capital dropped their price target 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 equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average 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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