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

Shares of Pitney Bowes Inc. (NYSE:PBI) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $18.61 and last traded at $18.1780, with a volume of 1700888 shares changing hands. The stock had previously closed at $17.77.

Analyst Ratings Changes

Several analysts recently weighed in on the company. The Goldman Sachs Group set a $15.20 price target on Pitney Bowes in a research note on Friday, May 8th. Zacks Research cut Pitney Bowes from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Bank of America raised Pitney Bowes from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $9.50 to $16.50 in a report on Monday, May 11th. Wall Street Zen raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Finally, Truist Financial raised their price target on Pitney Bowes from $11.00 to $15.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.43.

Pitney Bowes Trading Up 2.3%

The firm has a market cap of $2.46 billion, a P/E ratio of 17.65, a PEG ratio of 0.80 and a beta of 1.62. The company’s 50 day simple moving average is $16.72 and its 200-day simple moving average is $13.15.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $477.41 million for 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 business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. On average, sell-side analysts anticipate that Pitney Bowes Inc. will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Monday, May 18th were paid a dividend of $0.01 per share. The ex-dividend date was Monday, May 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Pitney Bowes’s payout ratio is currently 38.83%.

Insider Buying and Selling at Pitney Bowes

In other news, CEO Kurt James Wolf sold 966,561 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $14.58, for a total value of $14,092,459.38. Following the transaction, the chief executive officer directly owned 452,628 shares in the company, valued at $6,599,316.24. This trade represents a 68.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders sold 3,350,686 shares of company stock worth $53,305,322. 6.50% of the stock is owned by corporate insiders.

Institutional Trading of Pitney Bowes

A number of hedge funds have recently bought and sold shares of PBI. Capital Management Corp VA boosted its stake in shares of Pitney Bowes by 25.3% during 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 during the last quarter. TABR Capital Management LLC bought a new stake in shares of Pitney Bowes during the 4th quarter valued at $807,000. Solidarity Wealth LLC purchased a new stake in shares of Pitney Bowes in the 4th quarter worth $6,236,000. Gamco Investors INC. ET AL increased its stake in shares of Pitney Bowes by 33.8% in the 4th quarter. Gamco Investors INC. ET AL now owns 491,200 shares of the technology company’s stock worth $5,192,000 after purchasing an additional 124,000 shares in the last quarter. Finally, Evergreen Wealth Management LLC raised its holdings in Pitney Bowes by 19.1% in the 4th quarter. Evergreen Wealth Management LLC now owns 698,354 shares of the technology company’s stock worth $7,382,000 after purchasing an additional 111,936 shares during the period. Hedge funds and other institutional investors 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.