Pitney Bowes Inc. (NYSE:PBI) EVP Jason Dies purchased 3,600 shares of Pitney Bowes stock in a transaction on Friday, May 3rd. The stock was bought at an average price of $5.72 per share, with a total value of $20,592.00. Following the completion of the acquisition, the executive vice president now directly owns 19,258 shares of the company’s stock, valued at approximately $110,155.76. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
NYSE PBI traded down $0.31 during trading hours on Thursday, reaching $4.00. 7,105,152 shares of the company were exchanged, compared to its average volume of 4,075,094. Pitney Bowes Inc. has a 1 year low of $4.14 and a 1 year high of $9.71. The company has a debt-to-equity ratio of 35.45, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market capitalization of $836.76 million, a PE ratio of 3.45 and a beta of 1.46.
Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). Pitney Bowes had a return on equity of 99.26% and a net margin of 4.77%. The company had revenue of $868.40 million for the quarter, compared to analysts’ expectations of $866.04 million. During the same quarter last year, the business posted $0.28 EPS. The business’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, analysts forecast that Pitney Bowes Inc. will post 0.93 EPS for the current fiscal year.
Pitney Bowes announced that its board has initiated a share repurchase program on Tuesday, February 5th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
PBI has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Thursday, February 7th. Northcoast Research lowered shares of Pitney Bowes from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 6th. Maxim Group reissued a “buy” rating and set a $11.00 price target on shares of Pitney Bowes in a research report on Wednesday, April 24th. Finally, ValuEngine raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st.
Institutional investors and hedge funds have recently bought and sold shares of the company. Essex Savings Bank purchased a new position in shares of Pitney Bowes in the fourth quarter worth about $47,000. Levin Capital Strategies L.P. increased its stake in shares of Pitney Bowes by 61.0% in the fourth quarter. Levin Capital Strategies L.P. now owns 708,379 shares of the technology company’s stock worth $4,187,000 after purchasing an additional 268,504 shares in the last quarter. Morgan Stanley increased its stake in shares of Pitney Bowes by 18.2% in the third quarter. Morgan Stanley now owns 1,370,690 shares of the technology company’s stock worth $9,705,000 after purchasing an additional 211,019 shares in the last quarter. World Asset Management Inc increased its stake in shares of Pitney Bowes by 46.8% in the first quarter. World Asset Management Inc now owns 18,337 shares of the technology company’s stock worth $126,000 after purchasing an additional 5,848 shares in the last quarter. Finally, SMH Capital Advisors Inc. purchased a new position in shares of Pitney Bowes in the fourth quarter worth about $188,000. Hedge funds and other institutional investors own 74.14% of the company’s stock.
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Pitney Bowes Company Profile
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Commerce Services; Small & Medium Business Solutions; and Software Solutions. The Commerce Services segment provides cross-border e-commerce solutions, domestic retail and e-commerce shipping solutions, fulfillment, and delivery and return services; and mail sortation services that allow clients to qualify large volumes of first class mail, marketing mail, and bound and packet mail for postal work sharing discounts.
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