LSV Asset Management Buys Shares of 1,210,500 Pitney Bowes Inc. $PBI

LSV Asset Management purchased a new stake in shares of Pitney Bowes Inc. (NYSE:PBI) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,210,500 shares of the technology company’s stock, valued at approximately $13,812,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PBI. EverSource Wealth Advisors LLC boosted its holdings in Pitney Bowes by 41.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock valued at $38,000 after purchasing an additional 1,015 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Pitney Bowes during the second quarter valued at $51,000. Canada Pension Plan Investment Board acquired a new position in shares of Pitney Bowes during the second quarter valued at approximately $51,000. United Services Automobile Association purchased a new position in Pitney Bowes in the 1st quarter valued at $96,000. Finally, PFG Investments LLC purchased a new position in shares of Pitney Bowes in the third quarter worth about $127,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Trading Up 0.9%

Shares of Pitney Bowes stock opened at $10.27 on Friday. The company has a fifty day simple moving average of $10.41 and a 200-day simple moving average of $10.77. Pitney Bowes Inc. has a 12-month low of $7.39 and a 12-month high of $13.11. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 0.48 and a beta of 1.41.

Analysts Set New Price Targets

Several equities analysts have weighed in on PBI shares. Zacks Research upgraded shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. JMP Securities set a $13.00 price objective on shares of Pitney Bowes in a report on Wednesday, December 3rd. Citizens Jmp began coverage on shares of Pitney Bowes in a research note on Wednesday, December 3rd. They set a “market outperform” rating and a $13.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pitney Bowes in a research report on Monday, December 29th. Finally, Truist Financial began coverage on Pitney Bowes in a report on Friday, December 12th. They issued a “hold” rating and a $11.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Pitney Bowes 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.