Fox Run Management L.L.C. boosted its position in Pitney Bowes Inc. (NYSE:PBI) by 52.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,400 shares of the technology company’s stock after buying an additional 6,300 shares during the period. Fox Run Management L.L.C.’s holdings in Pitney Bowes were worth $278,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in PBI. Rothschild Investment Corp IL boosted its stake in Pitney Bowes by 2.5% in the first quarter. Rothschild Investment Corp IL now owns 41,029 shares of the technology company’s stock worth $538,000 after buying an additional 1,000 shares during the last quarter. Huntington National Bank boosted its stake in Pitney Bowes by 10.1% in the first quarter. Huntington National Bank now owns 16,981 shares of the technology company’s stock worth $222,000 after buying an additional 1,553 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Pitney Bowes by 302.6% in the first quarter. Louisiana State Employees Retirement System now owns 47,100 shares of the technology company’s stock worth $617,000 after buying an additional 35,400 shares during the last quarter. Banced Corp boosted its stake in Pitney Bowes by 23.6% in the first quarter. Banced Corp now owns 25,267 shares of the technology company’s stock worth $331,000 after buying an additional 4,817 shares during the last quarter. Finally, Gradient Investments LLC bought a new stake in Pitney Bowes during the first quarter worth approximately $6,052,000. 77.96% of the stock is owned by institutional investors and hedge funds.
Pitney Bowes Inc. (NYSE:PBI) opened at 15.53 on Friday. The firm has a market capitalization of $2.90 billion, a PE ratio of 29.14 and a beta of 1.16. Pitney Bowes Inc. has a one year low of $12.31 and a one year high of $19.33. The stock’s 50 day moving average is $15.25 and its 200-day moving average is $14.45.
Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The company had revenue of $836.60 million during the quarter, compared to analyst estimates of $817.07 million. Pitney Bowes had a net margin of 3.28% and a return on equity of 2,282.68%. Pitney Bowes’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the business earned $0.34 EPS. On average, analysts anticipate that Pitney Bowes Inc. will post $1.74 EPS for the current fiscal year.
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A number of research firms have commented on PBI. Zacks Investment Research cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Sidoti cut shares of Pitney Bowes from a “buy” rating to a “neutral” rating in a report on Monday, May 15th. Finally, ValuEngine cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Pitney Bowes presently has a consensus rating of “Hold” and a consensus target price of $18.50.
In other Pitney Bowes news, Director Linda S. Sanford purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was bought at an average cost of $15.09 per share, for a total transaction of $75,450.00. Following the purchase, the director now directly owns 18,690 shares in the company, valued at $282,032.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.01% of the stock is owned by company insiders.
About Pitney Bowes
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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