Pitney Bowes (NYSE:PBI) Sets New 12-Month High – What’s Next?

Pitney Bowes Inc. (NYSE:PBI)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $18.77 and last traded at $18.4950, with a volume of 1620313 shares trading hands. The stock had previously closed at $18.51.

Wall Street Analyst Weigh In

PBI has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Citigroup reissued a “market outperform” rating on shares of Pitney Bowes in a report on Tuesday, June 16th. Bank of America raised Pitney Bowes from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $9.50 to $16.50 in a research note on Monday, May 11th. Wall Street Zen raised shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Finally, Citizens Jmp increased their target price on Pitney Bowes from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research note on Friday, June 5th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.43.

Pitney Bowes Stock Performance

The company has a market capitalization of $2.41 billion, a PE ratio of 17.30, a P/E/G ratio of 0.81 and a beta of 1.62. The company’s 50-day simple moving average is $17.05 and its 200-day simple moving average is $13.47.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, meeting 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 firm had revenue of $477.41 million for the quarter, compared to analyst estimates of $471.83 million. During the same period last year, the firm posted $0.33 EPS. Pitney Bowes’s quarterly revenue was down 3.2% on a year-over-year basis. Analysts expect 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 $0.01 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Pitney Bowes’s dividend payout ratio (DPR) is 38.83%.

Insider Transactions at Pitney Bowes

In other news, EVP Deborah Pfeiffer sold 18,750 shares of Pitney Bowes stock in a transaction that occurred on Friday, May 29th. The shares were 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 in the company, valued at approximately $1,571,117.68. This trade represents a 16.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kurt James Wolf sold 316,280 shares of Pitney Bowes stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $17.10, for a total transaction of $5,408,388.00. Following the sale, the chief executive officer owned 217,930 shares of the company’s stock, valued at approximately $3,726,603. The trade was a 59.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,349,130 shares of company stock worth $53,285,535. 6.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Pitney Bowes

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its holdings in Pitney Bowes by 41.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock valued at $38,000 after buying an additional 1,015 shares during the last quarter. Advisory Services Network LLC raised its holdings in shares of Pitney Bowes by 2.4% in the third quarter. Advisory Services Network LLC now owns 52,975 shares of the technology company’s stock worth $604,000 after acquiring an additional 1,234 shares during the last quarter. Baird Financial Group Inc. raised its holdings in shares of Pitney Bowes by 12.5% in the second quarter. Baird Financial Group Inc. now owns 13,164 shares of the technology company’s stock worth $144,000 after acquiring an additional 1,459 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of Pitney Bowes by 3.0% in the first quarter. HB Wealth Management LLC now owns 62,446 shares of the technology company’s stock valued at $690,000 after acquiring an additional 1,807 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of Pitney Bowes by 13.5% during the third quarter. Creative Planning now owns 18,402 shares of the technology company’s stock valued at $210,000 after acquiring an additional 2,188 shares during the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

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.