Pitney Bowes (NYSE:PBI) Sets New 1-Year High – Here’s What Happened

Pitney Bowes Inc. (NYSE:PBI) shares reached a new 52-week high on Wednesday . The company traded as high as $17.67 and last traded at $17.6040, with a volume of 41675 shares trading hands. The stock had previously closed at $17.52.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PBI shares. Citizens Jmp increased their price target on Pitney Bowes from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research note on Friday, June 5th. The Goldman Sachs Group set a $15.20 target price on Pitney Bowes in a research note on Friday, May 8th. Weiss Ratings upgraded Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Bank of America upgraded shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $9.50 to $16.50 in a research report on Monday, May 11th. Finally, Truist Financial upped their target price on shares of Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.43.

Pitney Bowes Trading Down 0.1%

The stock has a market capitalization of $2.37 billion, a PE ratio of 17.01, a PEG ratio of 0.77 and a beta of 1.63. The business’s 50 day moving average is $15.05 and its 200 day moving average is $12.07.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $477.41 million during the quarter, compared to the consensus estimate of $471.83 million. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 earnings per share. As a group, analysts anticipate that Pitney Bowes Inc. will post 1.62 EPS for the current year.

Pitney Bowes Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Monday, May 18th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.04 annualized dividend and a yield of 0.2%. Pitney Bowes’s dividend payout ratio is 38.83%.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 18,750 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $16.06, for a total transaction of $301,125.00. Following the transaction, the executive vice president owned 97,828 shares of the company’s stock, valued at approximately $1,571,117.68. This trade represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kurt James Wolf sold 966,561 shares of Pitney Bowes stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $14.58, for a total transaction of $14,092,459.38. Following the transaction, the chief executive officer directly owned 452,628 shares in the company, valued at approximately $6,599,316.24. The trade was a 68.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 3,030,097 shares of company stock worth $46,661,100. Insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Pitney Bowes

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Pitney Bowes by 3.1% during the 2nd quarter. State Street Corp now owns 6,366,188 shares of the technology company’s stock worth $69,455,000 after acquiring an additional 188,886 shares in the last quarter. LSV Asset Management raised its stake in shares of Pitney Bowes by 246.7% during the 4th quarter. LSV Asset Management now owns 4,197,189 shares of the technology company’s stock worth $44,364,000 after buying an additional 2,986,689 shares during the period. Cannell & Spears LLC lifted its position in shares of Pitney Bowes by 89.5% during the 3rd quarter. Cannell & Spears LLC now owns 3,364,466 shares of the technology company’s stock valued at $38,389,000 after buying an additional 1,588,579 shares in the last quarter. Permit Capital LLC grew its stake in Pitney Bowes by 14.0% in the 4th quarter. Permit Capital LLC now owns 3,250,000 shares of the technology company’s stock valued at $34,352,000 after acquiring an additional 400,000 shares during the period. Finally, Capital Management Corp VA increased its holdings in Pitney Bowes by 25.3% in the 4th quarter. Capital Management Corp VA now owns 2,930,328 shares of the technology company’s stock worth $30,974,000 after acquiring an additional 592,568 shares in the last quarter. 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.