Pitney Bowes (NYSE:PBI) Hits New 52-Week High – What’s Next?

Shares of Pitney Bowes Inc. (NYSE:PBI) hit a new 52-week high on Monday . The stock traded as high as $16.56 and last traded at $16.3880, with a volume of 1094753 shares changing hands. The stock had previously closed at $15.75.

Analyst Ratings Changes

Several equities analysts have recently commented on PBI shares. Citizens Jmp upped their price target on Pitney Bowes from $13.00 to $14.00 and gave the company a “market outperform” rating in a research note on Friday, April 17th. Bank of America upgraded shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $9.50 to $16.50 in a research note on Monday, May 11th. Zacks Research upgraded shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Truist Financial increased their target price on Pitney Bowes from $11.00 to $15.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.18.

Pitney Bowes Stock Up 0.1%

The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 0.74 and a beta of 1.64. The company has a fifty day moving average of $12.74 and a two-hundred day moving average of $11.10.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The business had revenue of $477.41 million for the quarter, compared to analyst estimates of $471.83 million. During the same period in the previous year, the business posted $0.33 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. Equities analysts anticipate that Pitney Bowes Inc. will post 1.62 earnings per share for the current fiscal year.

Pitney Bowes Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Monday, May 18th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, May 18th. Pitney Bowes’s payout ratio is presently 38.83%.

Insider Transactions at Pitney Bowes

In other news, Director Brent D. Rosenthal purchased 4,000 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $10.22 per share, for a total transaction of $40,880.00. Following the completion of the transaction, the director directly owned 9,000 shares in the company, valued at $91,980. This represents a 80.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kurt James Wolf sold 389,161 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $15.69, for a total transaction of $6,105,936.09. Following the completion of the sale, the chief executive officer directly owned 363,853 shares in the company, valued at approximately $5,708,853.57. The trade was a 51.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 2,456,054 shares of company stock worth $34,864,180. 6.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Pitney Bowes

A number of large investors have recently bought and sold shares of PBI. LSV Asset Management boosted its stake in shares of Pitney Bowes by 246.7% during the fourth quarter. LSV Asset Management now owns 4,197,189 shares of the technology company’s stock valued at $44,364,000 after acquiring an additional 2,986,689 shares during the last quarter. Cannell & Spears LLC grew its position in Pitney Bowes by 89.5% during the third quarter. Cannell & Spears LLC now owns 3,364,466 shares of the technology company’s stock valued at $38,389,000 after acquiring an additional 1,588,579 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Pitney Bowes during the 1st quarter worth about $16,403,000. Millennium Management LLC increased its position in shares of Pitney Bowes by 60.2% in the fourth quarter. Millennium Management LLC now owns 2,630,801 shares of the technology company’s stock worth $27,808,000 after acquiring an additional 988,653 shares in the last quarter. Finally, Cibc World Market Inc. increased its holdings in Pitney Bowes by 2,724.6% in the 3rd quarter. Cibc World Market Inc. now owns 836,071 shares of the technology company’s stock valued at $9,540,000 after purchasing an additional 806,471 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Company Profile

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.