Pitney Bowes (NYSE:PBI) Upgraded to Strong-Buy by StockNews.com

Pitney Bowes (NYSE:PBI) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

Pitney Bowes Stock Performance

Shares of NYSE:PBI traded up $0.31 during midday trading on Tuesday, hitting $7.23. 4,424,223 shares of the company’s stock traded hands, compared to its average volume of 1,795,475. The firm’s fifty day moving average price is $5.91 and its two-hundred day moving average price is $4.92. Pitney Bowes has a twelve month low of $2.80 and a twelve month high of $7.70. The company has a market cap of $1.29 billion, a PE ratio of -3.33, a P/E/G ratio of 4.88 and a beta of 1.99.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.10. The company had revenue of $793.17 million during the quarter, compared to the consensus estimate of $771.65 million. Pitney Bowes had a negative return on equity of 3.09% and a negative net margin of 11.67%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) earnings per share. As a group, equities research analysts anticipate that Pitney Bowes will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Pitney Bowes

Large investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in Pitney Bowes in the 2nd quarter worth $324,000. XTX Topco Ltd purchased a new stake in shares of Pitney Bowes during the second quarter worth about $128,000. Renaissance Technologies LLC lifted its stake in shares of Pitney Bowes by 3.8% in the second quarter. Renaissance Technologies LLC now owns 519,571 shares of the technology company’s stock worth $2,639,000 after acquiring an additional 19,000 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Pitney Bowes by 6.8% in the second quarter. Federated Hermes Inc. now owns 79,420 shares of the technology company’s stock valued at $403,000 after purchasing an additional 5,073 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its stake in Pitney Bowes by 37.2% during the 2nd quarter. Texas Permanent School Fund Corp now owns 178,509 shares of the technology company’s stock valued at $907,000 after purchasing an additional 48,390 shares in the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.

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.