Stock Floundering in Session: Pitney Bowes Inc. (NYSE:PBI)

Marco Green
August 2, 2017

Looking at the other side of the coin, PBI traded as low as $12.31 in the past 52 weeks, and since then the shares have risen 27.86% or $3.43. UBS Asset Management Americas Inc. owned 0.10% of Pitney Bowes worth $2,406,000 at the end of the most recent quarter. Lapides Asset Management Llc owns 850,300 shares or 2.32% of their USA portfolio.

In short, Pitney's numbers were disappointing last quarter, and while free cash flow may recover in the year's second half, everything else seems to be trending down. Raymond James Financial Services Advisors Inc. increased its stake in shares of Pitney Bowes by 107.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 1,852,847 shares of the technology company's stock valued at $24,291,000 after buying an additional 372,115 shares in the last quarter. That value represents a market adjusting for revenues that have been falling by -0.94 % on a quarterly year/year basis as of the company's last quarterly report. Given the stock's recent action, it seemed like a good time to take a closer look at the company's recent data. Finally, Rothschild Investment Corp IL boosted its stake in Pitney Bowes by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 48,700 shares of the technology company's stock worth $735,000 after buying an additional 1,600 shares in the last quarter.

Pitney Bowes Inc. has a 12 month low of $12.31 and a 12 month high of $19.10.

Pitney Bowes Inc. has a 50 day moving average of 15.36 and a 200 day moving average of 14.42. The company has a market capitalization of $2.89 billion, a P/E ratio of 29.04 and a beta of 1.16. Zebra Capital Management Llc acquired 81,803 shares as Pitney Bowes Inc Com Stk (PBI)'s stock rose 11.95%. The technology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $836.60 million for the quarter, compared to analysts' expectations of $817.07 million.

Analysts See Pitney Bowes Inc. Relative to last year's second quarter, sales declined 2% and profits were down 7%. During the same quarter in the prior year, the company earned $0.39 EPS. Analysts expect that Pitney Bowes Inc. will post $1.74 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: "UBS Asset Management Americas Inc".

ILLEGAL ACTIVITY NOTICE: "Bank of America Corp DE Has $9.35 Million Stake in Pitney Bowes Inc. (PBI)" was originally published by The Cerbat Gem and is the property of of The Cerbat Gem.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PBI. The firm has "Sell" rating given on Monday, September 7 by Zacks. Sidoti downgraded the shares of PBI in report on Monday, May 15 to "Neutral" rating. ValuEngine downgraded shares of Pitney Bowes from a "buy" rating to a "hold" rating in a research report on Friday, June 2nd. BidaskClub cut shares of Pitney Bowes from a "buy" rating to a "hold" rating in a research note on Friday, June 23rd. Loop Capital assumed coverage on Pitney Bowes in a research note on Friday. Price Target plays a critical role when it comes to the analysis of a Stock. Analysts pegging the company with a rating of 3 would be indicating a Hold recommendation.

In related news, Director Linda S. Sanford acquired 5,000 shares of the firm's stock in a transaction on Wednesday, May 17th. Following the transaction, the director now owns 18,690 shares in the company, valued at approximately $282,032.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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