TIAA CREF Investment Management LLC reduced its position in Pitney Bowes (NYSE:PBI) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 542,404 shares of the technology company’s stock after selling 22,395 shares during the period. TIAA CREF Investment Management LLC’s holdings in Pitney Bowes were worth $6,064,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Itau Unibanco Holding S.A. lifted its holdings in shares of Pitney Bowes by 88.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 9,943 shares of the technology company’s stock worth $111,000 after purchasing an additional 4,664 shares in the last quarter. ING Groep NV raised its position in Pitney Bowes by 23.2% in the 4th quarter. ING Groep NV now owns 28,176 shares of the technology company’s stock valued at $315,000 after buying an additional 5,313 shares during the last quarter. Mutual of America Capital Management LLC raised its position in Pitney Bowes by 4.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 159,323 shares of the technology company’s stock valued at $1,781,000 after buying an additional 6,448 shares during the last quarter. Creative Planning raised its position in Pitney Bowes by 33.2% in the 4th quarter. Creative Planning now owns 29,486 shares of the technology company’s stock valued at $330,000 after buying an additional 7,351 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in Pitney Bowes by 3.8% in the 4th quarter. Teachers Advisors LLC now owns 223,824 shares of the technology company’s stock valued at $2,502,000 after buying an additional 8,209 shares during the last quarter. Institutional investors own 75.63% of the company’s stock.
A number of research firms recently commented on PBI. Zacks Investment Research lowered Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Tuesday, April 3rd. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $14.50.
NYSE PBI opened at $10.79 on Tuesday. The firm has a market capitalization of $2,006.02, a P/E ratio of 7.65 and a beta of 1.13. Pitney Bowes has a 12 month low of $9.50 and a 12 month high of $16.25. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 18.92.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. Pitney Bowes had a return on equity of 388.23% and a net margin of 7.36%. Pitney Bowes’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. equities analysts expect that Pitney Bowes will post 1.46 EPS for the current year.
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About Pitney Bowes
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: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.
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