Pitney Bowes (NYSE:PBI) Trading 8.8% Higher – Time to Buy?

Shares of Pitney Bowes Inc. (NYSE:PBI) traded up 8.8% during mid-day trading on Thursday . The company traded as high as $10.62 and last traded at $10.62. 1,920,584 shares were traded during trading, a decline of 16% from the average session volume of 2,276,239 shares. The stock had previously closed at $9.76.

Pitney Bowes Price Performance

The business has a 50-day simple moving average of $7.83 and a 200-day simple moving average of $7.36. The firm has a market capitalization of $1.92 billion, a PE ratio of -4.85, a P/E/G ratio of 0.52 and a beta of 2.01.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. On average, research analysts expect that Pitney Bowes Inc. will post 0.4 earnings per share for the current year.

Insider Transactions at Pitney Bowes

In other news, Director Paul J. Evans acquired 29,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $7.80 per share, with a total value of $226,200.00. Following the completion of the purchase, the director now directly owns 29,000 shares in the company, valued at $226,200. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $9.02, for a total value of $315,700.00. Following the completion of the transaction, the executive vice president now directly owns 124,124 shares in the company, valued at approximately $1,119,598.48. This trade represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. James J. Burns & Company LLC boosted its position in Pitney Bowes by 9.7% during the 4th quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company’s stock valued at $135,000 after acquiring an additional 1,637 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Pitney Bowes by 11.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company’s stock valued at $130,000 after acquiring an additional 1,878 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in Pitney Bowes by 10.8% during the 4th quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company’s stock valued at $150,000 after acquiring an additional 2,020 shares in the last quarter. Federated Hermes Inc. boosted its position in Pitney Bowes by 2.7% during the 4th quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company’s stock valued at $740,000 after acquiring an additional 2,711 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Pitney Bowes by 130.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock valued at $37,000 after acquiring an additional 2,873 shares in the last quarter. 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.