The Bokf Na Cuts Position in Pitney Bowes Inc. (PBI)

The Bokf Na Cuts Position in Pitney Bowes Inc. (PBI)

Bokf Na reduced its position in Pitney Bowes Inc. (NYSE:PBI) by 32.8% during the third quarter, Holdings Channel reports. The fund owned 58,247 shares of the company’s stock after selling 28,424 shares during the period. Bokf Na’s holdings in Pitney Bowes were worth $1,058,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new position in shares of Pitney Bowes during the second quarter worth about $22,551,000. Canada Pension Plan Investment Board boosted its position in shares of Pitney Bowes by 144.8% in the second quarter. Canada Pension Plan Investment Board now owns 950,510 shares of the company’s stock worth $16,919,000 after buying an additional 562,210 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Pitney Bowes by 8.2% in the third quarter. Wells Fargo & Company MN now owns 7,002,244 shares of the company’s stock worth $127,161,000 after buying an additional 529,171 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Pitney Bowes by 56.4% in the third quarter. TIAA CREF Investment Management LLC now owns 1,415,138 shares of the company’s stock worth $25,699,000 after buying an additional 510,282 shares during the last quarter. Finally, Janus Capital Management LLC boosted its position in shares of Pitney Bowes by 2,877.4% in the second quarter. Janus Capital Management LLC now owns 462,800 shares of the company’s stock worth $8,238,000 after buying an additional 447,256 shares during the last quarter. Institutional investors own 81.36% of the company’s stock.

Shares of Pitney Bowes Inc. (NYSE:PBI) traded down 3.33% during trading on Thursday, reaching $15.67. The company’s stock had a trading volume of 3,028,731 shares. The firm’s 50-day moving average is $15.68 and its 200-day moving average is $17.06. Pitney Bowes Inc. has a 12-month low of $14.22 and a 12-month high of $21.81. The stock has a market capitalization of $2.91 billion, a PE ratio of 11.40 and a beta of 1.33.

Pitney Bowes (NYSE:PBI) last released its earnings results on Tuesday, November 1st. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by $0.02. Pitney Bowes had a return on equity of 256.96% and a net margin of 8.02%. The business earned $839 million during the quarter, compared to analysts’ expectations of $851.82 million. During the same quarter in the previous year, the business earned $0.43 EPS. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. Equities analysts expect that Pitney Bowes Inc. will post $1.73 earnings per share for the current year.

A number of equities analysts recently issued reports on PBI shares. Zacks Investment Research upgraded shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th. TheStreet cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Tuesday, November 1st. Finally, Brean Capital reiterated a “buy” rating and issued a $20.00 price target (down previously from $24.00) on shares of Pitney Bowes in a research note on Wednesday, November 2nd.

In other news, EVP Robert Guidotti purchased 3,405 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were purchased at an average price of $14.70 per share, for a total transaction of $50,053.50. Following the completion of the purchase, the executive vice president now owns 3,405 shares in the company, valued at approximately $50,053.50. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Marc Bradley Lautenbach purchased 4,739 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The shares were purchased at an average price of $14.76 per share, for a total transaction of $69,947.64. Following the purchase, the insider now owns 80,937 shares of the company’s stock, valued at approximately $1,194,630.12. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 9,814 shares of company stock worth $144,700. 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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