Pitney Bowes (NYSE:PBI) Trading 3% Higher - Time to Buy?

Pitney Bowes Inc. (NYSE:PBI - Get Free Report)'s stock price traded up 3% during trading on Wednesday . The stock traded as high as $9.75 and last traded at $9.76. 240,928 shares changed hands during trading, a decline of 87% from the average session volume of 1,905,482 shares. The stock had previously closed at $9.47.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Pitney Bowes from a "buy" rating to a "strong-buy" rating in a research report on Monday, March 3rd.

Pitney Bowes Trading Down 2.4 %

The stock has a market cap of $1.70 billion, a PE ratio of -8.31, a P/E/G ratio of 0.59 and a beta of 2.02. The business has a 50 day moving average of $9.45 and a 200-day moving average of $8.08.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. Research analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Remove Ads

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were issued a dividend of $0.06 per share. The ex-dividend date was Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.58%. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.05. Pitney Bowes's dividend payout ratio (DPR) is currently -21.43%.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, Director Kurt James Wolf sold 1,250,000 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $9.66, for a total value of $12,075,000.00. Following the transaction, the director now directly owns 622,250 shares of the company's stock, valued at approximately $6,010,935. The trade was a 66.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Deborah Pfeiffer sold 35,000 shares of the firm's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $9.02, for a total transaction of $315,700.00. Following the completion of the sale, the executive vice president now owns 124,124 shares of the company's stock, valued at $1,119,598.48. This trade represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,974,484 shares of company stock valued at $19,815,631 in the last ninety days. Insiders own 14.30% of the company's stock.

Hedge Funds Weigh In On Pitney Bowes

A number of large investors have recently modified their holdings of the business. Intech Investment Management LLC raised its position in Pitney Bowes by 39.2% in the third quarter. Intech Investment Management LLC now owns 88,639 shares of the technology company's stock worth $632,000 after acquiring an additional 24,952 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Pitney Bowes in the 3rd quarter valued at about $197,000. The Manufacturers Life Insurance Company boosted its holdings in Pitney Bowes by 33.6% during the third quarter. The Manufacturers Life Insurance Company now owns 84,893 shares of the technology company's stock worth $605,000 after buying an additional 21,367 shares in the last quarter. FMR LLC grew its position in Pitney Bowes by 3,308.0% during the third quarter. FMR LLC now owns 320,152 shares of the technology company's stock worth $2,283,000 after buying an additional 310,758 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Pitney Bowes by 31.3% in the third quarter. BNP Paribas Financial Markets now owns 209,169 shares of the technology company's stock valued at $1,491,000 after buying an additional 49,854 shares in the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

About Pitney Bowes

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.