Modera Wealth Management LLC increased its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 10.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,966 shares of the technology company’s stock after buying an additional 1,310 shares during the quarter. Modera Wealth Management LLC’s holdings in Pitney Bowes were worth $211,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in PBI. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Pitney Bowes by 11.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock valued at $106,000 after buying an additional 748 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in Pitney Bowes by 4.7% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 11,109 shares of the technology company’s stock worth $146,000 after purchasing an additional 500 shares in the last quarter. Trexquant Investment LP purchased a new stake in Pitney Bowes during the 1st quarter worth about $149,000. IFP Advisors Inc lifted its holdings in Pitney Bowes by 74.4% during the 2nd quarter. IFP Advisors Inc now owns 11,236 shares of the technology company’s stock worth $170,000 after purchasing an additional 4,793 shares in the last quarter. Finally, TSP Capital Management Group LLC lifted its holdings in Pitney Bowes by 13.1% during the 2nd quarter. TSP Capital Management Group LLC now owns 12,550 shares of the technology company’s stock worth $190,000 after purchasing an additional 1,450 shares in the last quarter. Hedge funds and other institutional investors own 76.28% of the company’s stock.
Pitney Bowes Inc. (PBI) traded up 1.677% during mid-day trading on Friday, hitting $13.035. The company’s stock had a trading volume of 535,425 shares. Pitney Bowes Inc. has a 12-month low of $12.31 and a 12-month high of $18.24. The firm’s 50-day moving average is $13.03 and its 200-day moving average is $14.04. The company has a market cap of $2.43 billion, a P/E ratio of 25.609 and a beta of 1.20.
Pitney Bowes (NYSE:PBI) last issued its earnings results on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $821.40 million for the quarter, compared to analyst estimates of $822.90 million. Pitney Bowes had a return on equity of 15,666.66% and a net margin of 3.02%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share. Analysts predict that Pitney Bowes Inc. will post $1.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were given a $0.1875 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $0.75 annualized dividend and a dividend yield of 5.85%. Pitney Bowes’s dividend payout ratio is presently 144.23%.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Cross Research cut Pitney Bowes from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. BidaskClub cut Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Sidoti upgraded Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Wednesday, August 2nd. Finally, ValuEngine cut Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $17.50.
Pitney Bowes Profile
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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