Pitney Bowes (NYSE:PBI) CEO Sells $632,235.12 in Stock

Pitney Bowes Inc. (NYSE:PBI) CEO Kurt James Wolf sold 40,476 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $15.62, for a total value of $632,235.12. Following the completion of the transaction, the chief executive officer owned 360,210 shares in the company, valued at $5,626,480.20. This trade represents a 10.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kurt James Wolf also recently made the following trade(s):

• On Friday, May 8th, Kurt James Wolf sold 389,161 shares of Pitney Bowes stock. The shares were sold at an average price of $15.69, for a total value of $6,105,936.09.
• On Thursday, May 7th, Kurt James Wolf sold 597,224 shares of Pitney Bowes stock. The shares were sold at an average price of $15.59, for a total value of $9,310,722.16.
• On Wednesday, May 6th, Kurt James Wolf sold 966,561 shares of Pitney Bowes stock. The shares were sold at an average price of $14.58, for a total value of $14,092,459.38.
• On Thursday, April 2nd, Kurt James Wolf sold 39,919 shares of Pitney Bowes stock. The shares were sold at an average price of $11.14, for a total value of $444,697.66.
• On Wednesday, April 1st, Kurt James Wolf sold 160,289 shares of Pitney Bowes stock. The shares were sold at an average price of $11.06, for a total value of $1,772,796.34.
• On Wednesday, March 11th, Kurt James Wolf sold 150,000 shares of Pitney Bowes stock. The shares were sold at an average price of $10.38, for a total value of $1,557,000.00.

Pitney Bowes Stock Up 1.3%

Shares of NYSE:PBI opened at $15.81 on Friday. The company has a market cap of $2.14 billion, a P/E ratio of 15.35, a PEG ratio of 0.70 and a beta of 1.64. Pitney Bowes Inc. has a 52 week low of $8.95 and a 52 week high of $16.56. The company has a 50-day moving average price of $13.45 and a 200 day moving average price of $11.38.

Pitney Bowes (NYSE:PBI) last released its earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The company had revenue of $477.41 million for the quarter, compared to analysts’ expectations of $471.83 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. Analysts expect that Pitney Bowes Inc. will post 1.62 EPS for the current year.

Pitney Bowes Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Monday, May 18th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, May 18th. This represents a $0.04 annualized dividend and a yield of 0.3%. Pitney Bowes’s payout ratio is presently 38.83%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wall Street Zen upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. The Goldman Sachs Group set a $15.20 target price on Pitney Bowes in a research report on Friday, May 8th. Citizens Jmp boosted their target price on Pitney Bowes from $13.00 to $14.00 and gave the stock a “market outperform” rating in a research report on Friday, April 17th. Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.18.

Institutional Investors Weigh In On Pitney Bowes

A number of institutional investors and hedge funds have recently modified their holdings of the company. Capital Management Corp VA raised its position in shares of Pitney Bowes by 8.2% during the 3rd quarter. Capital Management Corp VA now owns 2,337,760 shares of the technology company’s stock worth $26,674,000 after purchasing an additional 176,180 shares during the last quarter. Evergreen Wealth Management LLC acquired a new stake in Pitney Bowes during the 3rd quarter valued at $6,691,000. LSV Asset Management acquired a new stake in Pitney Bowes during the 3rd quarter valued at $13,812,000. Phoenix Financial Ltd. acquired a new stake in Pitney Bowes during the 3rd quarter valued at $3,493,000. Finally, Denali Advisors LLC acquired a new stake in Pitney Bowes during the 3rd quarter valued at $1,710,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Company Profile

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.