Pacer Advisors Inc. bought a new position in Pitney Bowes Inc. (NYSE:PBI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 174,080 shares of the technology company’s stock, valued at approximately $745,000. Pacer Advisors Inc. owned approximately 0.10% of Pitney Bowes at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Mason Street Advisors LLC lifted its position in shares of Pitney Bowes by 1.9% in the 1st quarter. Mason Street Advisors LLC now owns 100,102 shares of the technology company’s stock worth $688,000 after purchasing an additional 1,826 shares during the period. Rhumbline Advisers lifted its position in shares of Pitney Bowes by 0.3% in the 1st quarter. Rhumbline Advisers now owns 562,300 shares of the technology company’s stock worth $3,863,000 after purchasing an additional 1,926 shares during the period. Alpine Woods Capital Investors LLC lifted its position in shares of Pitney Bowes by 1.7% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 175,850 shares of the technology company’s stock worth $753,000 after purchasing an additional 3,000 shares during the period. California Public Employees Retirement System lifted its position in shares of Pitney Bowes by 0.6% in the 1st quarter. California Public Employees Retirement System now owns 564,754 shares of the technology company’s stock worth $3,880,000 after purchasing an additional 3,577 shares during the period. Finally, Advisory Services Network LLC lifted its position in shares of Pitney Bowes by 37.7% in the 1st quarter. Advisory Services Network LLC now owns 16,796 shares of the technology company’s stock worth $115,000 after purchasing an additional 4,600 shares during the period. 78.30% of the stock is owned by hedge funds and other institutional investors.
NYSE:PBI remained flat at $$4.49 during midday trading on Friday. 3,672,264 shares of the company were exchanged, compared to its average volume of 3,212,809. Pitney Bowes Inc. has a 12 month low of $3.14 and a 12 month high of $8.56. The firm has a 50-day moving average price of $3.76 and a 200-day moving average price of $5.08. The company has a debt-to-equity ratio of 57.19, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market cap of $767.34 million, a PE ratio of 4.58 and a beta of 1.95.
Pitney Bowes (NYSE:PBI) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.04. Pitney Bowes had a net margin of 4.07% and a return on equity of 113.87%. The company had revenue of $860.78 million during the quarter, compared to analysts’ expectations of $861.66 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. Pitney Bowes’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts forecast that Pitney Bowes Inc. will post 0.66 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 23rd were given a dividend of $0.05 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.20 dividend on an annualized basis and a yield of 4.45%. Pitney Bowes’s payout ratio is 17.24%.
Several equities research analysts have recently weighed in on the stock. Maxim Group set a $6.00 price target on shares of Pitney Bowes and gave the stock a “buy” rating in a research report on Monday, August 26th. ValuEngine raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Zacks Investment Research cut shares of Pitney Bowes from a “hold” rating to a “sell” rating and set a $4.75 price target for the company. in a research report on Monday, September 9th.
Pitney Bowes Profile
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Commerce Services; Small & Medium Business Solutions; and Software Solutions. The Commerce Services segment provides cross-border e-commerce solutions, domestic retail and e-commerce shipping solutions, fulfillment, and delivery and return services; and mail sortation services that allow clients to qualify large volumes of first class mail, marketing mail, and bound and packet mail for postal work sharing discounts.
See Also: Net Margin
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