Pitney Bowes (NYSE:PBI) Reaches New 52-Week High – Here’s Why

Pitney Bowes Inc. (NYSE:PBI)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $18.49 and last traded at $18.4450, with a volume of 680714 shares changing hands. The stock had previously closed at $17.70.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PBI shares. Zacks Research raised Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Bank of America raised Pitney Bowes from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $9.50 to $16.50 in a research report on Monday, May 11th. Wall Street Zen raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Citigroup reaffirmed a “market outperform” rating on shares of Pitney Bowes in a research note on Tuesday, June 16th. Finally, Weiss Ratings upgraded shares of Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Pitney Bowes has an average rating of “Moderate Buy” and a consensus price target of $16.43.

Pitney Bowes Stock Up 3.6%

The stock has a market capitalization of $2.48 billion, a P/E ratio of 17.84, a P/E/G ratio of 0.78 and a beta of 1.62. The stock has a 50 day simple moving average of $16.51 and a two-hundred day simple moving average of $12.94.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. The company had revenue of $477.41 million for the quarter, compared to analysts’ expectations of $471.83 million. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 EPS. Sell-side analysts predict that Pitney Bowes Inc. will post 1.62 earnings per share for the current fiscal year.

Pitney Bowes Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Monday, May 18th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, May 18th. Pitney Bowes’s dividend payout ratio is 38.83%.

Insiders Place Their Bets

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 18,750 shares of the 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 completion of the sale, the executive vice president owned 97,828 shares in the company, valued at $1,571,117.68. This trade represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kurt James Wolf sold 316,280 shares of Pitney Bowes stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 217,930 shares of the company’s stock, valued at approximately $3,726,603. This trade represents a 59.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 3,351,337 shares of company stock valued at $53,313,134. Corporate insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Pitney Bowes

A number of institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in Pitney Bowes by 3.1% in the second quarter. State Street Corp now owns 6,366,188 shares of the technology company’s stock valued at $69,455,000 after buying an additional 188,886 shares during the period. LSV Asset Management boosted its stake in shares of Pitney Bowes by 246.7% during the 4th quarter. LSV Asset Management now owns 4,197,189 shares of the technology company’s stock worth $44,364,000 after acquiring an additional 2,986,689 shares during the period. Cannell & Spears LLC boosted its stake in shares of Pitney Bowes by 89.5% during the 3rd quarter. Cannell & Spears LLC now owns 3,364,466 shares of the technology company’s stock worth $38,389,000 after acquiring an additional 1,588,579 shares during the period. Permit Capital LLC increased its holdings in shares of Pitney Bowes by 14.0% during the 4th quarter. Permit Capital LLC now owns 3,250,000 shares of the technology company’s stock worth $34,352,000 after acquiring an additional 400,000 shares during the last quarter. Finally, Capital Management Corp VA increased its holdings in shares of Pitney Bowes by 25.3% during the 4th quarter. Capital Management Corp VA now owns 2,930,328 shares of the technology company’s stock worth $30,974,000 after acquiring an additional 592,568 shares during the last quarter. Institutional investors and hedge funds 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.