Pitney Bowes (NYSE:PBI) Hits New 1-Year High – Should You Buy?

Shares of Pitney Bowes Inc. (NYSE:PBI) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $17.13 and last traded at $16.8910, with a volume of 2357002 shares traded. The stock had previously closed at $16.78.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PBI. Bank of America raised Pitney Bowes from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $9.50 to $16.50 in a report on Monday, May 11th. Truist Financial lifted their target price on Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. Wall Street Zen raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Weiss Ratings raised Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Finally, The Goldman Sachs Group set a $15.20 price objective on Pitney Bowes in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.43.

Pitney Bowes Stock Up 0.7%

The company has a 50 day simple moving average of $14.55 and a two-hundred day simple moving average of $11.85. The company has a market capitalization of $2.29 billion, a P/E ratio of 16.40, a PEG ratio of 0.75 and a beta of 1.63.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The company had revenue of $477.41 million for the quarter, compared to analysts’ expectations of $471.83 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, research analysts expect that Pitney Bowes Inc. will post 1.62 EPS for the current fiscal year.

Pitney Bowes Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Monday, May 18th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, May 18th. Pitney Bowes’s payout ratio is presently 38.83%.

Insiders Place Their Bets

In other Pitney Bowes news, CEO Kurt James Wolf sold 40,476 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $15.62, for a total transaction of $632,235.12. Following the completion of the transaction, the chief executive officer owned 360,210 shares in the company, valued at $5,626,480.20. The trade was a 10.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brent D. Rosenthal bought 4,000 shares of the company’s stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $10.22 per share, with a total value of $40,880.00. Following the transaction, the director directly owned 9,000 shares of the company’s stock, valued at approximately $91,980. This trade represents a 80.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 2,215,280 shares of company stock valued at $32,695,541 over the last ninety days. 6.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. LSV Asset Management purchased a new position in shares of Pitney Bowes during the third quarter valued at approximately $13,812,000. Capital Management Corp VA boosted its position in shares of Pitney Bowes by 25.3% during the fourth quarter. Capital Management Corp VA now owns 2,930,328 shares of the technology company’s stock valued at $30,974,000 after buying an additional 592,568 shares during the period. Denali Advisors LLC purchased a new position in shares of Pitney Bowes during the third quarter valued at approximately $1,710,000. TABR Capital Management LLC purchased a new position in shares of Pitney Bowes during the fourth quarter valued at approximately $807,000. Finally, WINTON GROUP Ltd boosted its position in shares of Pitney Bowes by 3,377.0% during the third quarter. WINTON GROUP Ltd now owns 473,223 shares of the technology company’s stock valued at $5,399,000 after buying an additional 459,613 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.