OMERS ADMINISTRATION Corp cut its position in Pitney Bowes Inc. (NYSE:PBI) by 26.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,200 shares of the company’s stock after selling 32,000 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Pitney Bowes were worth $1,584,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Pitney Bowes by 13.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,293 shares of the company’s stock worth $114,000 after buying an additional 741 shares during the period. Bank of The West bought a new stake in Pitney Bowes during the third quarter worth about $187,000. Private Advisor Group LLC bought a new stake in Pitney Bowes during the second quarter worth about $210,000. Reik & CO. LLC raised its stake in Pitney Bowes by 21.7% in the second quarter. Reik & CO. LLC now owns 11,824 shares of the company’s stock worth $210,000 after buying an additional 2,110 shares during the period. Finally, Pacad Investment Ltd. bought a new stake in Pitney Bowes during the second quarter worth about $212,000. 81.36% of the stock is owned by institutional investors and hedge funds.
Pitney Bowes Inc. (NYSE:PBI) traded down 3.33% during trading on Thursday, reaching $15.67. The company had a trading volume of 3,028,729 shares. The company has a 50 day moving average price of $15.68 and a 200 day moving average price of $17.06. The company has a market capitalization of $2.91 billion, a PE ratio of 11.40 and a beta of 1.33. Pitney Bowes Inc. has a 52-week low of $14.22 and a 52-week high of $21.81.
Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.02. Pitney Bowes had a net margin of 8.02% and a return on equity of 256.96%. The firm earned $839 million during the quarter, compared to analyst estimates of $851.82 million. During the same period last year, the business posted $0.43 EPS. The company’s revenue was down 3.5% on a year-over-year basis. On average, equities analysts forecast that Pitney Bowes Inc. will post $1.73 EPS for the current fiscal year.
A number of analysts have recently issued reports on PBI shares. Brean Capital reissued a “buy” rating and issued a $20.00 price target (down from $24.00) on shares of Pitney Bowes in a research report on Wednesday, November 2nd. Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Tuesday, December 6th. Finally, TheStreet lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st.
In other news, insider Marc Bradley Lautenbach acquired 4,739 shares of Pitney Bowes stock in a transaction on Wednesday, November 2nd. The stock was purchased at an average price of $14.76 per share, with a total value of $69,947.64. Following the completion of the purchase, the insider now owns 80,937 shares of the company’s stock, valued at approximately $1,194,630.12. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert Guidotti acquired 3,405 shares of Pitney Bowes stock in a transaction on Friday, November 18th. The stock was purchased at an average cost of $14.70 per share, with a total value of $50,053.50. Following the purchase, the executive vice president now directly owns 3,405 shares of the company’s stock, valued at approximately $50,053.50. The disclosure for this purchase can be found here. Insiders acquired 9,814 shares of company stock valued at $144,700 in the last three months. Insiders own 1.43% of the company’s stock.
Pitney Bowes Company Profile
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence, and customer engagement products and solutions to help clients market to their customers, and shipping and mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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