Wells Fargo & Company MN lowered its stake in Pitney Bowes Inc. (NYSE:PBI) by 4.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,726,754 shares of the technology company’s stock after selling 80,176 shares during the quarter. Wells Fargo & Company MN owned approximately 0.92% of Pitney Bowes worth $26,074,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of PBI. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Pitney Bowes by 11.9% in 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 in the last quarter. Trexquant Investment LP purchased a new stake in Pitney Bowes in the 1st quarter valued at approximately $149,000. IFP Advisors Inc lifted its stake in Pitney Bowes by 74.4% in the 2nd quarter. IFP Advisors Inc now owns 11,236 shares of the technology company’s stock valued at $170,000 after buying an additional 4,793 shares in the last quarter. TSP Capital Management Group LLC lifted its stake in Pitney Bowes by 13.1% in the 2nd quarter. TSP Capital Management Group LLC now owns 12,550 shares of the technology company’s stock valued at $190,000 after buying an additional 1,450 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new stake in Pitney Bowes in the 1st quarter valued at approximately $216,000. 76.18% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Inc. (PBI) opened at 13.58 on Friday. The firm’s 50 day moving average price is $12.79 and its 200-day moving average price is $14.03. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 26.68 and a beta of 1.20. Pitney Bowes Inc. has a 52 week low of $12.31 and a 52 week high of $18.24.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data 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). Pitney Bowes had a return on equity of 15,666.66% and a net margin of 3.02%. The firm had revenue of $821.40 million for the quarter, compared to analysts’ expectations of $822.90 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. Analysts expect that Pitney Bowes Inc. will post $1.68 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend was Wednesday, August 23rd. Pitney Bowes’s dividend payout ratio (DPR) is currently 144.23%.

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PBI has been the topic of a number of recent research reports. BidaskClub lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Zacks Investment Research lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Cross Research lowered Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Loop Capital began coverage on Pitney Bowes in a research note on Friday, July 28th. They set a “hold” rating and a $16.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target 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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Institutional Ownership by Quarter for Pitney Bowes (NYSE:PBI)

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