Pitney Bowes (NYSE:PBI) EVP Sells $301,125.00 in Stock

Pitney Bowes Inc. (NYSE:PBI) EVP Deborah Pfeiffer sold 18,750 shares of Pitney Bowes stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $16.06, for a total transaction of $301,125.00. Following the completion of the sale, the executive vice president directly owned 97,828 shares of the company’s stock, valued at approximately $1,571,117.68. This trade represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Pitney Bowes Trading Up 5.7%

NYSE:PBI traded up $0.91 during trading hours on Monday, reaching $17.01. The company had a trading volume of 2,608,496 shares, compared to its average volume of 2,863,413. Pitney Bowes Inc. has a 52 week low of $8.95 and a 52 week high of $16.98. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 0.72 and a beta of 1.63. The firm’s 50 day moving average price is $13.57 and its 200-day moving average price is $11.43.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.47 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 during the quarter, compared to the consensus estimate of $471.83 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s revenue was down 3.2% on a year-over-year basis. On average, analysts forecast 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 $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, May 18th. Pitney Bowes’s payout ratio is 38.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group set a $15.20 price objective on shares of Pitney Bowes in a research report on Friday, May 8th. Truist Financial boosted their price objective on shares of Pitney Bowes from $11.00 to $15.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. Zacks Research raised shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Citizens Jmp boosted their price objective on shares of Pitney Bowes from $13.00 to $14.00 and gave the company a “market outperform” rating in a research report on Friday, April 17th. Finally, Wall Street Zen raised shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.18.

Institutional Trading of Pitney Bowes

Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE lifted its stake in Pitney Bowes by 39.5% in the 1st quarter. Bank of America Corp DE now owns 326,865 shares of the technology company’s stock worth $3,612,000 after purchasing an additional 92,607 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in Pitney Bowes in the 1st quarter worth $184,000. Amundi lifted its stake in Pitney Bowes by 20.8% in the 1st quarter. Amundi now owns 34,318 shares of the technology company’s stock worth $379,000 after purchasing an additional 5,898 shares in the last quarter. California State Teachers Retirement System lifted its stake in Pitney Bowes by 29.7% in the 1st quarter. California State Teachers Retirement System now owns 202,484 shares of the technology company’s stock worth $2,237,000 after purchasing an additional 46,371 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Pitney Bowes by 28.1% in the 1st quarter. Royal Bank of Canada now owns 75,807 shares of the technology company’s stock worth $837,000 after purchasing an additional 16,623 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

About Pitney Bowes

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.