Stock Traders Purchase High Volume of Call Options on Pitney Bowes (NYSE:PBI)

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) was the target of some unusual options trading on Monday. Investors acquired 26,021 call options on the stock. This represents an increase of approximately 418% compared to the average daily volume of 5,021 call options.

Hedge Funds Weigh In On Pitney Bowes

Several large investors have recently made changes to their positions in PBI. nVerses Capital LLC bought a new stake in shares of Pitney Bowes in the second quarter worth about $48,000. William Howard & Co Financial Advisors Inc acquired a new stake in Pitney Bowes during the 1st quarter worth approximately $52,000. SageView Advisory Group LLC acquired a new stake in shares of Pitney Bowes during the first quarter worth $57,000. Point72 DIFC Ltd boosted its holdings in Pitney Bowes by 218.0% in the 2nd quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company's stock valued at $58,000 after purchasing an additional 7,819 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Pitney Bowes by 15.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company's stock valued at $77,000 after buying an additional 2,054 shares during the period. Institutional investors and hedge funds own 67.88% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 21st.

Pitney Bowes Price Performance

NYSE:PBI traded up $0.41 during trading hours on Monday, reaching $7.99. The company's stock had a trading volume of 3,975,010 shares, compared to its average volume of 1,758,658. The business's 50-day moving average is $7.03 and its 200-day moving average is $6.26. Pitney Bowes has a one year low of $3.68 and a one year high of $8.80. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -3.62, a price-to-earnings-growth ratio of 1.44 and a beta of 1.97.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.10. The firm had revenue of $793.17 million for the quarter, compared to the consensus estimate of $771.65 million. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 13.85%. The business's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.02) earnings per share. On average, sell-side analysts predict that Pitney Bowes will post 0.38 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Monday, November 18th. Pitney Bowes's dividend payout ratio is currently -9.17%.

Pitney Bowes Company Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.