Teacher Retirement System of Texas Lowers Position in Pitney Bowes Inc. $PBI

Teacher Retirement System of Texas decreased its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 43.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 153,079 shares of the technology company’s stock after selling 118,329 shares during the period. Teacher Retirement System of Texas’ holdings in Pitney Bowes were worth $1,747,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Trail Ridge Investment Advisors LLC lifted its stake in Pitney Bowes by 5.1% during the 3rd quarter. Trail Ridge Investment Advisors LLC now owns 20,890 shares of the technology company’s stock valued at $238,000 after acquiring an additional 1,008 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Pitney Bowes by 41.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock valued at $38,000 after purchasing an additional 1,015 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in Pitney Bowes by 0.5% during the second quarter. New York State Teachers Retirement System now owns 257,827 shares of the technology company’s stock worth $2,813,000 after purchasing an additional 1,246 shares during the last quarter. Baird Financial Group Inc. grew its position in Pitney Bowes by 12.5% in the 2nd quarter. Baird Financial Group Inc. now owns 13,164 shares of the technology company’s stock worth $144,000 after purchasing an additional 1,459 shares in the last quarter. Finally, Amalgamated Bank grew its position in Pitney Bowes by 3.4% in the 3rd quarter. Amalgamated Bank now owns 46,680 shares of the technology company’s stock worth $533,000 after purchasing an additional 1,555 shares in the last quarter. Institutional investors own 67.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JMP Securities set a $13.00 target price on Pitney Bowes in a research note on Wednesday, December 3rd. Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Truist Financial initiated coverage on Pitney Bowes in a research note on Friday, December 12th. They set a “hold” rating and a $11.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Pitney Bowes in a report on Monday, December 29th. Finally, The Goldman Sachs Group began coverage on shares of Pitney Bowes in a report on Monday, November 3rd. They set a “neutral” rating and a $11.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Pitney Bowes Stock Performance

Shares of Pitney Bowes stock opened at $10.43 on Friday. The stock has a market capitalization of $1.68 billion, a P/E ratio of 23.17, a P/E/G ratio of 0.48 and a beta of 1.30. Pitney Bowes Inc. has a 52-week low of $7.39 and a 52-week high of $13.11. The stock’s 50-day simple moving average is $10.27 and its 200 day simple moving average is $10.89.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Wednesday, October 29th. The technology company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). Pitney Bowes had a negative return on equity of 38.38% and a net margin of 4.14%.The business had revenue of $459.68 million during the quarter, compared to analysts’ expectations of $467.45 million. During the same quarter in the previous year, the business earned $0.21 EPS. Pitney Bowes’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities research analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.