Pitney Bowes (NYSE:PBI) Reaches New 1-Year High – Here’s What Happened

Pitney Bowes Inc. (NYSE:PBI)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $17.67 and last traded at $17.6040, with a volume of 41675 shares changing hands. The stock had previously closed at $17.52.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Citizens Jmp increased their price objective on shares of Pitney Bowes from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research note on Friday, June 5th. Weiss Ratings raised Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 8th. Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Truist Financial raised their price target on Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. Finally, Citigroup restated a “market outperform” rating on shares of Pitney Bowes in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.43.

Pitney Bowes Trading Up 0.6%

The stock’s 50-day moving average is $15.31 and its 200-day moving average is $12.17. The stock has a market cap of $2.37 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 0.78 and a beta of 1.63.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The company had revenue of $477.41 million for the quarter, compared to the consensus estimate of $471.83 million. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. Pitney Bowes’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS. On average, equities analysts forecast that Pitney Bowes Inc. will post 1.62 EPS for the current year.

Pitney Bowes Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Monday, May 18th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, May 18th. Pitney Bowes’s dividend payout ratio (DPR) is currently 38.83%.

Insider Activity at Pitney Bowes

In other Pitney Bowes news, CEO Kurt James Wolf sold 322,829 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.40, for a total value of $5,617,224.60. Following the completion of the sale, the chief executive officer directly owned 264,922 shares in the company, valued at $4,609,642.80. This represents a 54.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Deborah Pfeiffer sold 18,750 shares of Pitney Bowes stock in a transaction on Friday, May 29th. The shares were sold at an average price of $16.06, for a total value of $301,125.00. Following the transaction, the executive vice president owned 97,828 shares in the company, valued at approximately $1,571,117.68. This trade represents a 16.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 3,030,097 shares of company stock worth $46,661,100. 6.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PBI. Pacer Advisors Inc. bought a new stake in Pitney Bowes in the first quarter worth about $12,950,000. Bank of America Corp DE boosted its position in shares of Pitney Bowes by 39.5% during the 1st quarter. Bank of America Corp DE now owns 326,865 shares of the technology company’s stock valued at $3,612,000 after purchasing an additional 92,607 shares in the last quarter. Kentucky Retirement Systems bought a new position in shares of Pitney Bowes during the 1st quarter valued at about $184,000. Amundi grew its stake in shares of 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 during the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of 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 during the last quarter. Institutional investors 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.