Pitney Bowes (NYSE:PBI) Reaches New 52-Week High – Should You Buy?

Pitney Bowes Inc. (NYSE:PBI) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $18.77 and last traded at $18.4950, with a volume of 1620313 shares changing hands. The stock had previously closed at $18.51.

Wall Street Analysts Forecast Growth

PBI has been the topic of several research reports. Zacks Research cut Pitney Bowes from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Weiss Ratings raised Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Wall Street Zen upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Citizens Jmp lifted their price objective 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. Finally, The Goldman Sachs Group set a $15.20 price objective on Pitney Bowes in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $16.43.

Pitney Bowes Trading Down 0.1%

The firm has a market capitalization of $2.50 billion, a PE ratio of 17.96, a PEG ratio of 0.83 and a beta of 1.62. The business’s 50 day simple moving average is $16.95 and its 200 day simple moving average is $13.37.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $477.41 million for the quarter, compared to analysts’ expectations 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 revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. Analysts forecast that Pitney Bowes Inc. will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

The business also recently disclosed 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. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, May 18th. Pitney Bowes’s payout ratio is presently 38.83%.

Insider Activity at Pitney Bowes

In other news, CEO Kurt James Wolf sold 316,280 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $17.10, for a total value of $5,408,388.00. Following the completion of the sale, the chief executive officer directly owned 217,930 shares of the company’s stock, valued at $3,726,603. This trade represents a 59.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah Pfeiffer sold 18,750 shares of Pitney Bowes stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $16.06, for a total value of $301,125.00. Following the completion of 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 SEC filing for this sale provides additional information. Insiders have sold 3,349,130 shares of company stock worth $53,285,535 over the last three months. 6.50% of the stock is currently owned by insiders.

Institutional Trading of Pitney Bowes

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its position in Pitney Bowes by 41.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock valued at $38,000 after purchasing an additional 1,015 shares during the period. Advisory Services Network LLC lifted its position in shares of Pitney Bowes by 2.4% in the 3rd quarter. Advisory Services Network LLC now owns 52,975 shares of the technology company’s stock worth $604,000 after purchasing an additional 1,234 shares during the period. Baird Financial Group Inc. boosted its stake in shares of Pitney Bowes by 12.5% during the second quarter. Baird Financial Group Inc. now owns 13,164 shares of the technology company’s stock valued at $144,000 after purchasing an additional 1,459 shares in the last quarter. HB Wealth Management LLC increased its holdings in Pitney Bowes by 3.0% during the first quarter. HB Wealth Management LLC now owns 62,446 shares of the technology company’s stock valued at $690,000 after buying an additional 1,807 shares during the period. Finally, Creative Planning increased its holdings in Pitney Bowes by 13.5% during the third quarter. Creative Planning now owns 18,402 shares of the technology company’s stock valued at $210,000 after buying an additional 2,188 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.