Northern Trust Corp boosted its stake in Pitney Bowes Inc. (NYSE:PBI) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,635,900 shares of the technology company’s stock after buying an additional 12,253 shares during the quarter. Northern Trust Corp’s holdings in Pitney Bowes were worth $17,816,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. HBK Investments L P acquired a new stake in Pitney Bowes in the 4th quarter valued at $157,000. Xact Kapitalforvaltning AB acquired a new stake in Pitney Bowes in the 4th quarter valued at $202,000. Two Sigma Securities LLC acquired a new stake in Pitney Bowes in the 4th quarter valued at $211,000. Sciencast Management LP acquired a new stake in Pitney Bowes in the 4th quarter valued at $218,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Pitney Bowes in the 1st quarter valued at $238,000. 75.29% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the company. ValuEngine raised Pitney Bowes from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 2nd. Loop Capital reduced their price objective on Pitney Bowes to $10.00 and set a “hold” rating on the stock in a research note on Thursday, May 3rd. Maxim Group started coverage on Pitney Bowes in a research note on Thursday, May 31st. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Zacks Investment Research lowered Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Tuesday, April 3rd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Pitney Bowes presently has an average rating of “Hold” and a consensus price target of $13.00.
In other Pitney Bowes news, VP Stanley J. Sutula III acquired 10,000 shares of Pitney Bowes stock in a transaction on Tuesday, May 8th. The shares were bought at an average price of $8.82 per share, with a total value of $88,200.00. Following the completion of the purchase, the vice president now owns 10,000 shares in the company, valued at $88,200. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Marc Bradley Lautenbach bought 11,100 shares of the company’s stock in a transaction dated Tuesday, May 8th. The shares were purchased at an average price of $9.02 per share, with a total value of $100,122.00. Following the transaction, the insider now owns 97,860 shares of the company’s stock, valued at $882,697.20. The disclosure for this purchase can be found here. 2.01% of the stock is currently owned by insiders.
Pitney Bowes stock opened at $8.45 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 15.15. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 5.99 and a beta of 1.10. Pitney Bowes Inc. has a 52 week low of $8.11 and a 52 week high of $16.13.
Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Wednesday, May 2nd. The technology company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. The company had revenue of $983.20 million for the quarter, compared to analyst estimates of $930.38 million. Pitney Bowes had a return on equity of 189.79% and a net margin of 6.76%. The business’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 earnings per share. research analysts anticipate that Pitney Bowes Inc. will post 1.18 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 11th. Shareholders of record on Friday, May 25th were paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 8.88%. The ex-dividend date was Thursday, May 24th. Pitney Bowes’s dividend payout ratio is currently 53.19%.
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: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.
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