Maxi Investments CY Ltd Takes $3.34 Million Position in Pitney Bowes Inc. $PBI

Maxi Investments CY Ltd bought a new position in shares of Pitney Bowes Inc. (NYSE:PBI) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 316,000 shares of the technology company’s stock, valued at approximately $3,340,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cannell & Spears LLC grew its holdings in Pitney Bowes by 89.5% during the third 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. LSV Asset Management acquired a new stake in Pitney Bowes in the 3rd quarter valued at about $13,812,000. Cibc World Market Inc. lifted its holdings in Pitney Bowes by 2,724.6% in the 3rd quarter. Cibc World Market Inc. now owns 836,071 shares of the technology company’s stock valued at $9,540,000 after acquiring an additional 806,471 shares during the last quarter. Mizuho Markets Americas LLC bought a new position in shares of Pitney Bowes during the 3rd quarter valued at about $7,683,000. Finally, Invesco Ltd. boosted its position in shares of Pitney Bowes by 29.5% during the 3rd quarter. Invesco Ltd. now owns 2,622,003 shares of the technology company’s stock valued at $29,917,000 after purchasing an additional 597,938 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Price Performance

Pitney Bowes stock opened at $15.59 on Friday. The firm’s 50 day simple moving average is $11.94 and its 200-day simple moving average is $10.87. The company has a market cap of $2.24 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 0.96 and a beta of 1.64. Pitney Bowes Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $15.95.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $477.41 million for the quarter, compared to analyst estimates of $471.83 million. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. On average, analysts expect that Pitney Bowes Inc. will post 1.58 EPS for the current fiscal year.

Pitney Bowes Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Monday, May 18th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, May 18th. Pitney Bowes’s payout ratio is 34.95%.

Analyst Ratings Changes

PBI has been the topic of a number of research reports. Bank of America initiated coverage on shares of Pitney Bowes in a report on Tuesday, February 17th. They issued an “underperform” rating and a $9.00 target price on the stock. Weiss Ratings cut shares of Pitney Bowes from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Zacks Research lowered shares of Pitney Bowes from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Wall Street Zen raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Finally, Citigroup reiterated an “outperform” rating on shares of Pitney Bowes in a research report on Friday, April 17th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.93.

Insiders Place Their Bets

In other news, CEO Kurt James Wolf sold 39,919 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $11.14, for a total value of $444,697.66. Following the completion of the sale, the chief executive officer owned 539,618 shares of the company’s stock, valued at $6,011,344.52. This trade represents a 6.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brent D. Rosenthal purchased 4,000 shares of the stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $10.22 per share, for a total transaction of $40,880.00. Following the acquisition, the director directly owned 9,000 shares of the company’s stock, valued at $91,980. This represents a 80.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 503,108 shares of company stock valued at $5,355,063 in the last 90 days. Corporate insiders own 6.50% 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.