First National Bank of Mount Dora Trust Investment Services lessened its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,565 shares of the technology company’s stock after selling 5,315 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in Pitney Bowes were worth $974,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Eaton Vance Management grew its stake in Pitney Bowes by 0.3% during the 2nd quarter. Eaton Vance Management now owns 54,293 shares of the technology company’s stock valued at $820,000 after acquiring an additional 142 shares in the last quarter. Ifrah Financial Services Inc. grew its stake in Pitney Bowes by 1.3% during the 2nd quarter. Ifrah Financial Services Inc. now owns 18,025 shares of the technology company’s stock valued at $272,000 after acquiring an additional 238 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Pitney Bowes by 1.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 15,054 shares of the technology company’s stock valued at $227,000 after acquiring an additional 251 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Pitney Bowes by 11.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock valued at $106,000 after acquiring an additional 748 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in Pitney Bowes by 1.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 60,488 shares of the technology company’s stock valued at $913,000 after acquiring an additional 784 shares in the last quarter. 76.18% of the stock is owned by institutional investors.

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Several equities analysts have weighed in on PBI shares. ValuEngine upgraded shares of Pitney Bowes from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Sidoti upgraded shares of Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Pitney Bowes from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. 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 on the stock. Finally, BidaskClub lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $17.67.

Pitney Bowes Inc. (PBI) traded up 0.29% during trading on Wednesday, reaching $13.65. 836,980 shares of the company’s stock traded hands. The firm has a market capitalization of $2.55 billion, a PE ratio of 26.82 and a beta of 1.21. Pitney Bowes Inc. has a 1-year low of $12.31 and a 1-year high of $18.20. The firm has a 50 day moving average of $13.30 and a 200 day moving average of $14.14.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $821.40 million for the quarter, compared to analysts’ expectations of $822.90 million. Pitney Bowes had a return on equity of 15,666.66% and a net margin of 3.02%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 earnings per share. Equities analysts forecast that Pitney Bowes Inc. will post $1.68 EPS for the current year.

About Pitney Bowes

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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