Cibc World Market Inc. Has $9.54 Million Stock Position in Pitney Bowes Inc. $PBI

Cibc World Market Inc. raised its holdings in Pitney Bowes Inc. (NYSE:PBI) by 2,724.6% during the third quarter, HoldingsChannel.com reports. The fund owned 836,071 shares of the technology company’s stock after purchasing an additional 806,471 shares during the period. Cibc World Market Inc.’s holdings in Pitney Bowes were worth $9,540,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PBI. EverSource Wealth Advisors LLC lifted its stake 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. Elevation Point Wealth Partners LLC acquired a new stake in shares of Pitney Bowes during the 2nd quarter valued at $51,000. Canada Pension Plan Investment Board bought a new stake in Pitney Bowes during the 2nd quarter worth $51,000. United Services Automobile Association acquired a new position in Pitney Bowes in the 1st quarter worth about $96,000. Finally, Truist Financial Corp acquired a new stake in shares of Pitney Bowes during the second quarter valued at about $123,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PBI. The Goldman Sachs Group started coverage on shares of Pitney Bowes in a report on Monday, November 3rd. They issued a “neutral” rating and a $11.00 price objective for the company. JMP Securities set a $13.00 price objective on Pitney Bowes in a report on Wednesday, December 3rd. Citigroup began coverage on Pitney Bowes in a research report on Wednesday, December 3rd. They issued an “outperform” rating on the stock. Citizens Jmp initiated coverage on Pitney Bowes in a research report on Wednesday, December 3rd. They set a “market outperform” rating and a $13.00 price objective for the company. Finally, Truist Financial initiated coverage on Pitney Bowes in a report on Friday, December 12th. They issued a “hold” rating and a $11.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Pitney Bowes Stock Performance

Shares of PBI opened at $10.27 on Friday. The firm has a market cap of $1.65 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 0.48 and a beta of 1.41. Pitney Bowes Inc. has a 52-week low of $7.39 and a 52-week high of $13.11. The business’s 50 day moving average price is $10.41 and its two-hundred day moving average price is $10.78.

Pitney Bowes 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.