Renaissance Technologies LLC increased its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 149.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,414,026 shares of the technology company’s stock after buying an additional 846,126 shares during the period. Renaissance Technologies LLC owned 0.76% of Pitney Bowes worth $18,538,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Pitney Bowes by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,649 shares of the technology company’s stock worth $162,000 after buying an additional 49 shares during the period. M&T Bank Corp raised its position in Pitney Bowes by 1.7% in the first quarter. M&T Bank Corp now owns 26,743 shares of the technology company’s stock worth $349,000 after buying an additional 439 shares during the period. Sheaff Brock Investment Advisors LLC raised its position in Pitney Bowes by 4.7% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,109 shares of the technology company’s stock worth $146,000 after buying an additional 500 shares during the period. Rothschild Investment Corp IL raised its position in Pitney Bowes by 2.5% in the first quarter. Rothschild Investment Corp IL now owns 41,029 shares of the technology company’s stock worth $538,000 after buying an additional 1,000 shares during the period. Finally, Huntington National Bank raised its position in Pitney Bowes by 10.1% in the first quarter. Huntington National Bank now owns 16,981 shares of the technology company’s stock worth $222,000 after buying an additional 1,553 shares during the period. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Inc. (PBI) traded down 3.47% during trading on Thursday, hitting $12.80. 3,189,916 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $15.30 and its 200 day moving average price is $14.40. Pitney Bowes Inc. has a 12-month low of $12.31 and a 12-month high of $19.10. The stock has a market cap of $2.39 billion, a P/E ratio of 24.15 and a beta of 1.17.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by $0.03. The company had revenue of $821.40 million during the quarter, compared to analyst estimates of $822.90 million. Pitney Bowes had a net margin of 3.02% and a negative return on equity of 4,441.24%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS. Analysts anticipate that Pitney Bowes Inc. will post $1.74 earnings per share for the current fiscal year.

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PBI has been the topic of several analyst reports. Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Monday, April 10th. BidaskClub lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. ValuEngine lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Cross Research downgraded shares of Pitney Bowes from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Loop Capital started coverage on shares of Pitney Bowes in a report on Friday, July 28th. They issued a “hold” rating and a $16.00 target price for the company. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.50.

In related news, Director Linda S. Sanford acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was bought at an average price of $15.09 per share, with a total value of $75,450.00. Following the acquisition, the director now owns 18,690 shares in the company, valued at approximately $282,032.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.01% of the company’s stock.

Pitney Bowes Company 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.

Institutional Ownership by Quarter for Pitney Bowes (NYSE:PBI)

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