Pitney Bowes (NYSE:PBI) Trading Up 4.1%

Shares of Pitney Bowes Inc. (NYSE:PBI) traded up 4.1% during trading on Tuesday . The company traded as high as $4.32 and last traded at $4.32. 348,140 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,398,893 shares. The stock had previously closed at $4.15.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Monday, February 5th.

Pitney Bowes Price Performance

The stock has a 50-day moving average of $4.12 and a 200-day moving average of $4.05.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Thursday, February 1st. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. The firm had revenue of $871.58 million for the quarter, compared to analysts’ expectations of $849.85 million. Pitney Bowes had a negative return on equity of 4.75% and a negative net margin of 11.81%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 EPS. As a group, analysts expect that Pitney Bowes Inc. will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Pitney Bowes

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio lifted its holdings in shares of Pitney Bowes by 98.5% during the 3rd quarter. Strs Ohio now owns 52,000 shares of the technology company’s stock worth $157,000 after acquiring an additional 25,800 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Pitney Bowes by 50.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,616 shares of the technology company’s stock worth $56,000 after purchasing an additional 6,279 shares in the last quarter. Capital Management Corp VA increased its position in shares of Pitney Bowes by 2.3% during the 3rd quarter. Capital Management Corp VA now owns 4,539,425 shares of the technology company’s stock valued at $13,709,000 after purchasing an additional 104,190 shares during the last quarter. Syon Capital LLC purchased a new position in shares of Pitney Bowes during the 3rd quarter valued at about $32,000. Finally, Illinois Municipal Retirement Fund bought a new stake in Pitney Bowes in the 3rd quarter worth approximately $327,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Pitney Bowes Company Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.