Brokerages Set Pitney Bowes Inc. (NYSE:PBI) Target Price at $16.43

Pitney Bowes Inc. (NYSE:PBI) has been given an average rating of “Moderate Buy” by the seven analysts that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $16.4250.

PBI has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. The Goldman Sachs Group set a $15.20 price target on shares of Pitney Bowes in a research note on Friday, May 8th. Bank of America upgraded shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $9.50 to $16.50 in a research report on Monday, May 11th. Citizens Jmp boosted their price objective on shares of Pitney Bowes from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research report on Friday, June 5th. Finally, Wall Street Zen raised shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th.

Insiders Place Their Bets

In related news, EVP Deborah Pfeiffer sold 18,750 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $16.06, for a total value of $301,125.00. Following the completion of the sale, the executive vice president owned 97,828 shares in the company, valued at $1,571,117.68. This represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kurt James Wolf sold 322,829 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.40, for a total transaction of $5,617,224.60. Following the completion of the sale, the chief executive officer owned 264,922 shares of the company’s stock, valued at approximately $4,609,642.80. This trade represents a 54.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,030,097 shares of company stock valued at $46,661,100. 6.50% of the stock is owned by corporate insiders.

Institutional Trading of Pitney Bowes

Several institutional investors and hedge funds have recently bought and sold shares of PBI. Longview Financial Advisors Inc. purchased a new stake in Pitney Bowes in the 1st quarter valued at $26,000. EverSource Wealth Advisors LLC raised its position in Pitney Bowes by 41.3% in 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 last quarter. Hantz Financial Services Inc. raised its position in Pitney Bowes by 190.9% in the 4th quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company’s stock valued at $40,000 after purchasing an additional 2,459 shares during the last quarter. UMB Bank n.a. raised its position in Pitney Bowes by 404.6% in the 4th quarter. UMB Bank n.a. now owns 4,022 shares of the technology company’s stock valued at $43,000 after purchasing an additional 3,225 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Pitney Bowes in the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Pitney Bowes Stock Performance

Shares of PBI stock opened at $17.54 on Friday. The stock has a market capitalization of $2.38 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 0.81 and a beta of 1.63. The company has a 50 day moving average price of $16.01 and a 200 day moving average price of $12.47. Pitney Bowes has a fifty-two week low of $8.95 and a fifty-two week high of $18.12.

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

Pitney Bowes Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Monday, May 18th were given a $0.01 dividend. The ex-dividend date of this dividend 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 38.83%.

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.