Gateway Investment Advisers LLC maintained its position in Pitney Bowes Inc. (NYSE:PBI) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 26,475 shares of the technology company’s stock at the end of the second quarter. Gateway Investment Advisers LLC’s holdings in Pitney Bowes were worth $400,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in PBI. Nationwide Fund Advisors raised its position in Pitney Bowes by 481.9% in the first quarter. Nationwide Fund Advisors now owns 309,967 shares of the technology company’s stock worth $4,064,000 after buying an additional 256,697 shares in the last quarter. CAPROCK Group Inc. purchased a new position in Pitney Bowes during the first quarter worth approximately $525,000. Rothschild Investment Corp IL raised its position in Pitney Bowes by 2.5% in the first quarter. Rothschild Investment Corp IL now owns 41,029 shares of the technology company’s stock worth $538,000 after buying an additional 1,000 shares in the last quarter. Huntington National Bank raised its position in Pitney Bowes by 10.1% in the first quarter. Huntington National Bank now owns 16,981 shares of the technology company’s stock worth $222,000 after buying an additional 1,553 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Pitney Bowes by 302.6% in the first quarter. Louisiana State Employees Retirement System now owns 47,100 shares of the technology company’s stock worth $617,000 after buying an additional 35,400 shares in the last quarter. 77.88% of the stock is currently owned by institutional investors.
Pitney Bowes Inc. (NYSE:PBI) opened at 15.84 on Thursday. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 29.72 and a beta of 1.16. The stock has a 50 day moving average of $15.31 and a 200-day moving average of $14.45. Pitney Bowes Inc. has a 52-week low of $12.31 and a 52-week high of $19.33.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. The company had revenue of $836.60 million during the quarter, compared to the consensus estimate of $817.07 million. Pitney Bowes had a return on equity of 2,282.68% and a net margin of 3.28%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, analysts forecast that Pitney Bowes Inc. will post $1.74 EPS for the current year.
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A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Pitney Bowes from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Friday, May 12th. Sidoti lowered shares of Pitney Bowes from a “buy” rating to a “neutral” rating in a research report on Monday, May 15th. ValuEngine lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $18.50.
In related news, Director Linda S. Sanford acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was bought at an average price of $15.09 per share, with a total value of $75,450.00. Following the acquisition, the director now owns 18,690 shares in the company, valued at approximately $282,032.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.01% 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 its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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