Millennium Management LLC increased its holdings in shares of Pitney Bowes (NYSE:PBI) by 51.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 553,176 shares of the technology company’s stock after buying an additional 188,101 shares during the quarter. Millennium Management LLC owned 0.30% of Pitney Bowes worth $6,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in PBI. Legal & General Group Plc grew its stake in Pitney Bowes by 15.5% during the 3rd quarter. Legal & General Group Plc now owns 388,760 shares of the technology company’s stock worth $5,447,000 after buying an additional 52,301 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Pitney Bowes by 13.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,389,740 shares of the technology company’s stock worth $33,480,000 after buying an additional 279,697 shares during the last quarter. Stifel Financial Corp purchased a new position in Pitney Bowes during the 3rd quarter worth $511,000. AMP Capital Investors Ltd lifted its position in Pitney Bowes by 116.1% during the 3rd quarter. AMP Capital Investors Ltd now owns 60,951 shares of the technology company’s stock worth $854,000 after acquiring an additional 32,751 shares during the period. Finally, Vident Investment Advisory LLC acquired a new stake in Pitney Bowes during the 3rd quarter worth about $472,000. Hedge funds and other institutional investors own 75.60% of the company’s stock.
Shares of PBI opened at $10.74 on Monday. Pitney Bowes has a one year low of $9.50 and a one year high of $16.25. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 18.92. The stock has a market cap of $2,037.77, a price-to-earnings ratio of 7.62 and a beta of 1.13.
Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. Pitney Bowes had a return on equity of 388.23% and a net margin of 7.36%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The firm’s revenue was up 18.3% compared to the same quarter last year. equities research analysts expect that Pitney Bowes will post 1.46 earnings per share for the current year.
A number of analysts have commented on the company. Zacks Investment Research cut Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Tuesday, April 3rd. ValuEngine cut Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $14.50.
Pitney Bowes Profile
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.
Want to see what other hedge funds are holding PBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pitney Bowes (NYSE:PBI).
Receive News & Ratings for Pitney Bowes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pitney Bowes and related companies with MarketBeat.com's FREE daily email newsletter.